$300 - $400mm? What do folks think?
Be careful, the VXX is very dangerous, take it from someone who knows. Do yourself a favor and look at a long-term chart. Dont hold for more than a day or two
Pismire, you seem to have their numbers down pretty well, what do you see for 2016? Are you as negative as the analysts covering PGN? What do you see? Thx
You guys have been so very wrong. Its in the balance sheet numbskulls. 60 some % of tangible book valueLearn how banks are valued and how to read a balance sheet and you wont lose so much money!
Actually by my calculation, it's trading at about 65% of tangible book. Don't listen to the bashers, like it or not TBV is a huge part of how banks are valued. Even the largest mega-banks trade at about .85 a .90, U.S. Large Regionals at 1 - 1.2 and smaller regionals 1.2 - 1.5. Bank of the Ozarks and BOFI are overvalued IMO at almost 4x TBV
I think it's grandstanding for political purposes because they won't get what they want but they want to "appear" to be trying hard. A deal will probably come at the last minute....
Thanks for everyone's thoughts on this. My take is its a net positive also. I too think they should buy back their bonds at a discount but it never hurts to have the cash available
I think some big players were waiting for this. Like I said, I think this will be viewed very positively