Comments on: Are all banks built the same? What is a “safe” bank stock? http://www.thickenmywallet.com/blog/wp/2008/07/17/are-all-banks-built-the-same-what-is-a-safe-bank-stock/ Everything to do with thickening your wallet Wed, 01 Feb 2012 15:44:00 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Geoff http://www.thickenmywallet.com/blog/wp/2008/07/17/are-all-banks-built-the-same-what-is-a-safe-bank-stock/comment-page-1/#comment-14205 Geoff Mon, 21 Jul 2008 18:25:25 +0000 http://www.thickenmywallet.com/blog/wp/2008/07/17/are-all-banks-built-the-same-what-is-a-safe-bank-stock/#comment-14205 Nurseb911, You may want to reconsider WFC's earnings in light of this, "...But if you look at how the banks “beat” their earnings the coincidence becomes clear. WFC took the unprecedented step of extending charge-off acknowledgment from 120 days to 160 days. This allowed the bank to move less capital to loan loss reserves and report better than expected horrible earnings. And JPM was even more aggressive. It actually lowered its loan loss reserves quarter to quarter." http://www.minyanville.com/articles/bears-asia-contagion-google-goog-wfc/index/a/18096/from/yahoo Nurseb911,

You may want to reconsider WFC’s earnings in light of this,

“…But if you look at how the banks “beat” their earnings the coincidence becomes clear. WFC took the unprecedented step of extending charge-off acknowledgment from 120 days to 160 days. This allowed the bank to move less capital to loan loss reserves and report better than expected horrible earnings. And JPM was even more aggressive. It actually lowered its loan loss reserves quarter to quarter.”

http://www.minyanville.com/articles/bears-asia-contagion-google-goog-wfc/index/a/18096/from/yahoo

]]> By: admin http://www.thickenmywallet.com/blog/wp/2008/07/17/are-all-banks-built-the-same-what-is-a-safe-bank-stock/comment-page-1/#comment-13864 admin Thu, 17 Jul 2008 19:00:08 +0000 http://www.thickenmywallet.com/blog/wp/2008/07/17/are-all-banks-built-the-same-what-is-a-safe-bank-stock/#comment-13864 NurseB911- certain an astute observation and perhaps the topic of another blog... Frog- great tip. I am on a SPP with Manulife. Its funny how your mentality changes when the stock goes down. Instead of being in a panic, I end up thinking "hey I can get more shares this month!" NurseB911- certain an astute observation and perhaps the topic of another blog…

Frog- great tip. I am on a SPP with Manulife. Its funny how your mentality changes when the stock goes down. Instead of being in a panic, I end up thinking “hey I can get more shares this month!”

]]> By: Nurseb911 http://www.thickenmywallet.com/blog/wp/2008/07/17/are-all-banks-built-the-same-what-is-a-safe-bank-stock/comment-page-1/#comment-13861 Nurseb911 Thu, 17 Jul 2008 18:09:51 +0000 http://www.thickenmywallet.com/blog/wp/2008/07/17/are-all-banks-built-the-same-what-is-a-safe-bank-stock/#comment-13861 I think there's value in financials, you just have to be weary of where you look. One problem I think many investors have made is concentrating their purchases with banks of the same relative strength. If you pick the best bank for retail, international exposure, investment banking, etc then you're somewhat diversified by activity. I was happy with yesterday's earnings from WFC and have added to the position twice so far under $25. So far that's the only US bank I've purchased, but there are many internationally that continue to provide attractive valuations (BBV, WBK, STD). I think there’s value in financials, you just have to be weary of where you look. One problem I think many investors have made is concentrating their purchases with banks of the same relative strength. If you pick the best bank for retail, international exposure, investment banking, etc then you’re somewhat diversified by activity. I was happy with yesterday’s earnings from WFC and have added to the position twice so far under $25. So far that’s the only US bank I’ve purchased, but there are many internationally that continue to provide attractive valuations (BBV, WBK, STD).

]]> By: Frog of Finance http://www.thickenmywallet.com/blog/wp/2008/07/17/are-all-banks-built-the-same-what-is-a-safe-bank-stock/comment-page-1/#comment-13847 Frog of Finance Thu, 17 Jul 2008 13:28:47 +0000 http://www.thickenmywallet.com/blog/wp/2008/07/17/are-all-banks-built-the-same-what-is-a-safe-bank-stock/#comment-13847 That is one of the reasons I like DRiPs and SPP (Dividend Reinvestment Plans and Share Purchase Plans). I can slowly add more money to the banks I own (BNS and BMO), without trying to guess if they have hit the bottom. No fees for buying more shares, just the stamp to send my cheque! :o) Cheers, Frog That is one of the reasons I like DRiPs and SPP (Dividend Reinvestment Plans and Share Purchase Plans). I can slowly add more money to the banks I own (BNS and BMO), without trying to guess if they have hit the bottom. No fees for buying more shares, just the stamp to send my cheque! :o )

Cheers,
Frog

]]> By: admin http://www.thickenmywallet.com/blog/wp/2008/07/17/are-all-banks-built-the-same-what-is-a-safe-bank-stock/comment-page-1/#comment-13843 admin Thu, 17 Jul 2008 12:39:05 +0000 http://www.thickenmywallet.com/blog/wp/2008/07/17/are-all-banks-built-the-same-what-is-a-safe-bank-stock/#comment-13843 MDJ- they are typically reported in the quarterly financial statements. Look under "core deposits". Mutual fund sales for all the major financial institutions are reported monthly in Canada as well by the Investment Fund Institute of Canada. RBC has lead most of this year over-taking the Power Financial/IGM/Investors Group group. MDJ- they are typically reported in the quarterly financial statements. Look under “core deposits”.

Mutual fund sales for all the major financial institutions are reported monthly in Canada as well by the Investment Fund Institute of Canada. RBC has lead most of this year over-taking the Power Financial/IGM/Investors Group group.

]]> By: MillionDollarJourney http://www.thickenmywallet.com/blog/wp/2008/07/17/are-all-banks-built-the-same-what-is-a-safe-bank-stock/comment-page-1/#comment-13841 MillionDollarJourney Thu, 17 Jul 2008 11:51:55 +0000 http://www.thickenmywallet.com/blog/wp/2008/07/17/are-all-banks-built-the-same-what-is-a-safe-bank-stock/#comment-13841 Where can we find info on bank deposits? Where can we find info on bank deposits?

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