Valueinvestorclub.com: the Gotham Capital controlled pseudo-secret portal where hedge fund managers everywhere would sell both their kidneys to be members of, as pitched ideas tend to move markets on a regular basis, and never to be confused with Whitney Tilson's pale immitation, has just released a new thesis on Bank of America, which is oddly comparable to ideas suggested by Zero Hedge over the years. The thesis summary is rather self-explanatory: "Bank Of America equity is worthless. CFC-related litigation is going from bad to worse, it can lead to violent erosion of shareholders' equity which. Combined with the run on the bank that has slowly begun, the $53 trillion in derivatives, the lack of sustainable competitive advantages and the depleting political influence, I believe this is a terminal short." The rest is rather self-explanatory as well. Now: how many hedge fund managers will use this herd aggregation signal and pile in on the short side?
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4 comments:
Check the stock price over the past year, it's already being shorted by most hedge funds/managers. No reason not to short the Big 4. 7 trillion is assets to 235 trillion of derivatives exposure.
The momentum of the rolling stone is picking up speed....There is still about another 300-400 TRILLION dollars of derivatives waiting to crash. Since the bankers have used some very byzantine and very complicated (and VERY VERY secret) methods as they shell-gamed these "assets" around, no one, and I mean no one, knows just how much money is really at risk, but even people with ANY knowledge of derivatives place the figure in the HUNDREDS OF TRILLIONS. Last I heard, THAT'S a lot of money. You DO know what happens at the end of a Ponzi scheme, don't you?? Buy more ammo while it's still available.
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