April 16th, 2020 is a big day for our country.  There is now a plan to begin reopening the country.  The decision will ultimately fall to the Governors of the states.  The pace of reopening will be determined by the situation impacting each state, as opposed to one process for the whole country.  Reopening in...Read More

This week, earnings began coming out in abundance, starting with many of the Big Banks.  I’ve gotten through J.P. Morgan, Wells Fargo, Bank of America, and Citigroup.  Research reports will be forthcoming.  I will tell you that I am incredibly encouraged.  All 4 banks were profitable, despite posting dramatic and expected reserves to account for...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

We are now 5 years past the Great Recession of 2008, yet governments’ in both the United States and the United Kingdom are still obsessing about banks’ sins of the past.  The most recent headline is that the U.K. believes that RBS intentionally allowed viable businesses to go bankrupt to gauge them for advisory fees...Read More

Below is TTCM’s most recent research report on J.P. Morgan.  While other banks may offer a bigger disconnect between price and value, J.P. Morgan is an exceptionally well run, and still undervalued institution.  Enjoy! http://seekingalpha.com/article/922391-jpmorgan-see-the-forest-through-the-trees INVESTING IN THE FINANCIAL MARKETS INVOLVES RISKS. OPTIONS ARE NOT SUITABLE FOR ALL INVESTORS.Read More

This article points out just how different JP Morgan’s (JPM) approach to credit risk is versus its competitors.  Most of the large banks don’t have a CIO unit which attempts to hedge huge macroeconomic risks, and they certainly aren’t looking to do so using synthetic derivatives.  JP Morgan will learn from this and is a...Read More

It appears that the loss in the CIO division of JP Morgan (JPM) is now effecting their willingness to buy back stock, even though stock buybacks at current prices below tangible book value would significantly boost intrinsic value.  I don’t think JP Morgan is making the right decision to do that as it reduces confidence...Read More