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Citicorp: Risk managers?

Tuesday, November 6th, 2007

If I were a Citigroup shareholder or a Citigroup employee (hopefully you know who you are), I would find this an unsettling exchange: (From the Citigroup Business Update Call on November 5, 2007 via Seeking Alpha) Guy Moszkowski – Merrill Lynch …Maybe you can comment for us as a follow up on the dependence or […]


Sunday, October 14th, 2007

I’ve spent the last few days on the couch, felled by some nasty virus my children brought back from their first week of school. The week has not been a total write off . I’ve had plenty of time to plow through the financial statements of companies at ground zero of the current financial crisis. […]

The story of downpayment assistance programs (DAP)

Thursday, October 4th, 2007

Here’s the scheme: You live in random Midwestern industrial city. The housing market is terrible. Finally, you find someone who wants to buy your house but they have no money. Zippo. If they could come up with 5%, they could qualify for a loan and buy the house. Hey – why don’t you agree on […]

Masco: Reckless endangerment

Wednesday, September 26th, 2007

Disclaimer: We are not single stock pickers, we generally do not use single stocks in our client portfolios and we base virtually all comments on a company’s SEC filings, information on Yahoo! Finance and information available on the company’s website. We are not offering buy or sell recommendations and you should not interpret any article […]

Real estate: Time for a housing diet

Sunday, September 23rd, 2007

Note: LONG. Note 2: I know there are problems with the images. Until recently, the US has been quite good about self-regulating its demand for new housing units. The number of houses and apartments that we need corresponds to the number of households in the US, a number that changes as the number of people […]

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