But a smart, curious fellow like you should see this as an opportunity. I would not say that the Misesian canon is absolutely perfect and infallible in all regards. If you don’t like the answers, you can always step back out again! In the hallway there are many, many answers to these questions that trouble you.
#Jp morgan writedown full
If you open this door and step in, you will find a bright hallway full of fresh air. If the room were not dark and full of smoke, you’d see a sign on the door. That round thing you find yourself fumbling around with is actually the handle of a door. analyst Brad Hintz estimated in a note dated today that Merrill will have a CDO-related writedown of $10 billion in the fourth quarter. “Particularly those with high levels of exposure such as Citi and Merrill Lynch, both of whom have new CEOs at their helms.” “Many of the December year-end firms are likely to be more aggressive with their marks,” Tanona wrote. Tanona previously had estimated that Merrill, which replaced CEO Stan O’Neal with John Thain, would have to write down $6 billion of securities. Writedowns at the biggest banks are still likely to be “significantly larger than investors are anticipating,” Tanona wrote… Nine analysts rate Citigroup a “buy” while eight recommend holding the stock, according to Bloomberg data… 19 and was the last of six analysts who follow the company to advise clients to sell the stock. Tanona downgraded Citigroup’s shares on Nov. “Given the magnitude of the writedowns we assume and Citi’s remaining exposure, we believe the firm has a serious need to preserve or raise additional capital.” “It will be a couple of quarters before the current credit crisis is fully digested by the markets,” wrote Tanona, who has a “sell” rating on Citigroup’s stock and a “neutral” rating on JPMorgan and Merrill. Losses and writedowns at the world’s biggest banks and securities firms total $97 billion this year, according to data compiled by Bloomberg… may reduce its holdings by $11.5 billion, he wrote. bank, may write off $3.4 billion, double Goldman’s previous estimate. JPMorgan Chase & Co., the third-largest U.S. 26 report on the New York-based companies. bank, may reduce the value of its holdings by $18.7 billion in the fourth quarter and cut its dividend 40 percent, Goldman analyst William Tanona said in a Dec. may write down an additional $34 billion in securities linked to the collapse of the subprime mortgage market, according to Goldman Sachs Group Inc.Ĭitigroup, the biggest U.S. From Bloomberg:Ĭitigroup Inc., JPMorgan Chase & Co. Tanona also expects Citigroup to cut its dividend. Goldman’s William Tanona predicts further sizable losses at major brokerage firms, with Citi and Merrill taking particularly large hits.
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