Bank of America
Bank of America CEO Brian Moynihan was on Bloomberg this morning talking about the U.S. Consumer and his company. He mentions that Bank of America is past the stage of capital concerns, and now the issue is earnings. There are about $2 Billion of additional mortgage related expenses per quarter that will ease over time,...
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Over the weekend Third Avenue Funds released their quarterly commentary, which always includes wonderful commentaries from their fund managers let by their Chairman Martin Whitman, whose investment philosophy as articulated by his shareholder letters and books, have become a  key component to our core value investing philosophy at T&T.  Whitman is unique in that he...
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There was a significant court ruling that will be a big help to what has been one of our largest positions AGO.  MBIA which is a competitor to AGO in the same line of business one a ruling versus Bank of America about what they need to prove to show losses from fraudulent reps and...
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Today (JEF) Jefferies released their earnings which drastically beat low expectations, and as a result the stock is up about 20%.  This is an extremely well run investment bank, and the largest shareholder’s are Leucadia, and the CEO Richard Handler.  Both Handler and Leucadia have proven to be extremely astute managers and investors in the...
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