Read the latest research report by our Chief Investment Officer Tim Travis on Wells Fargo & Co. (WFC) Sell-Off in Wells Fargo Creates Long-Term Buying OpportunityRead More

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

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

On behalf of our Chief Investment Officer Tim Travis… Hello Everybody, For those of you that have followed me for a while, you likely know that there are few money managers that I regard as highly as Bruce Berkowitz of Fairholme Funds.  Similarly to T&T Capital Management, Berkowitz runs a focused portfolio and has no...Read More

While history might not repeat itself, it does tend to rhyme.  Nowhere is this more evident than in the psychological behavior of market participants.  Between 1995-2000, tech stocks and day trading were the rage regardless of valuations.  Ultimately the Nasdaq crashed 75% from the high to the low, wiping our many retirees savings along with...Read More

Below is a link to my most recent research report on Citigroup.  This stock is deeply undervalued and offers and extremely compelling opportunity for long-term investors.  I hope that you enjoy!   http://seekingalpha.com/article/2142653-citigroup-this-is-a-no-brainer-homerun-investment-for-the-long-term-investor  Read More

Prem Watsa is one of the most respected investors in the world and I always enjoy his shareholder letters.  Fairfax Financial has dramatically improved the quality of its insurance operating businesses but the financial results have been obscured by huge losses on equity and CPI hedges.  Watsa is a firm believer that the global economy...Read More

Here is a link to our most recent research report on Wells Fargo.  This is the best run big bank and still offers a reasonable relative value.   http://seekingalpha.com/article/1947971-Wells-Fargos-Valuation-And-Earnings-Can-Still-Climb-HigherRead 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

Here is Tim Travis’ research report on Wells Fargo & Co. (WFC) on Oct 12th 2012.   http://seekingalpha.com/article/921361-wells-fargo-continues-to-eat-up-the-competitionRead More