Posted on 04/07/2009 12:15:13 AM PDT by TigerLikesRooster
Move over Meredith
Posted by Neil Hume on Apr 06 16:19.
…there’s another bank slayer in town, and his name is Mike Mayo.
The former Deutsche Bank analyst has re-launched his coverage of the sector at his new employer, CLSA, with a note titled the ‘Seven deadly sins of banking’.
And Mayo, who was a virulent critic of ex-Merrill boss John Thain and anathema to Chuck Prince, can barely find a positive thing to say about the sector. Of the 11 banks he is now following all are rated either “sell” or “underperform” and his forecasts are also mostly below consensus.
He sees the sector lurching from one crisis (capital market losses) to another, more serious one (loan losses).
(Excerpt) Read more at ftalphaville.ft.com ...
Ping!
BTTT.
Tiger... Are you on holiday?
No, I was busy with something else. Including N. Korean thread.
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