Today Citigroup reported 4th quarter earnings that beat analyst estimates.  Profits were about $3.4 billion in the quarter or $1.06 per share.  For the full year the company earned $17 billion dollars, or $5.40 per share.  Book value and Tangible book value increased to $69.46 and $60.61, respectively.  Citi Holdings Assets declined by 43% from...Read More

As part of our effort at T&T Capital Management (TTCM) to educate our clients on our positions, I wanted to provide a few quick updates.  Macy’s (M) is obviously a very well know and well run retail operation.  The 52-week range is $34.05-$73.61.  The stock has plummeted as retails sales have been a bit disappointing...Read More

We are about midway through earnings season and most of the big banks have now reported.  The delay of an interest rate increase had a role in the recent selloff as did just the general terrible market sentiment due to the severe correction that took place.  What many market participants fail to understand is that...Read More

Hello Everybody, Earnings season has started off very strongly for the big U.S. banks, which we’ve owned for over 5 years now.  Credit conditions started improving about 3 or 4 years ago and is now absolutely pristine.  Unfortunately, litigations and most importantly penalties imposed by government agencies have cost these companies and shareholders tens of...Read More

Read our latest research report from Chief Investment Officer Tim Travis on JP Morgan Chase & Co. (JPM) JPMorgan Chase – Premier Competitive Position But Just Adequate ValueRead More

Hello Everybody, I hope that you all had a nice weekend.  I just wanted to let you know that as our firm grows in size, we continue to leverage that with TD Ameritrade to get your costs lower.  Options are only $1.25 per contract now, which is about a 17% discount from the $1.50 we...Read More

Below is a link to our most recent research report on J.P. Morgan.  We feel that the stock is still reasonably attractive and that market participants are far too critical on the bank and Jamie Dimon.  I hope that you enjoy!   http://seekingalpha.com/article/1945941-perception-is-not-reality-for-jamie-dimon-and-jpmorgan  Read More

The new era of banking that started after the Financial Crisis, consists of much higher regulatory and capital requirements.  This has reduced returns in the industry but arguably has made the banking system more financially sound.  It should come as no surprise that smaller banks have been more negatively impacted and are losing market share,...Read More

JP Morgan CEO Jamie Dimon showed some serious confidence in his own company by buying 500,000 shares last week for $34.22 each.  That is a real conviction purchase that shows that Dimon is confident his company can survive the “Whale Problem” and the European crisis.  JP Morgan has some of the best earnings power of...Read More

One of my favorite investors Bruce Berkowitz of Fairholme Funds posted a new slide show today.  He correctly identifies the difference between volatility and risk as defined by a permanent loss of capital.  In this market anything with the perception of risk is being punished quite viciously as the macroeconomic situation is trumping individual stock...Read More