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
You must not know how to value a bank. You should be buying with both hands rather than bashing. Lol
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
Lots of small trades now (aka possible manipulation) that probably doesn't mean much
I agree, they were probably offered by Tencent and said "no thank you". With a billion on their books or whatever, they surely don't need the cash
China extended. Japan extended. DAX extended. Dow, S&P (19 PE), NASD, and RUT extended. Markets PE's are highest in a long time. VIX is at 12.58. TZA just really just looks like a buy here, at least short-term