Banks keep recommending themselves to investors … Every day a new recommendation, a new round of upgrades … Today we had Goldman calling Bank of America a “conviction buy” … hmmm JPMorgan and Citi hiked Goldman price targets and earnings estimates … hmmm The interesting thing about this is … as the markets so far [...]

They really did it … OMG Mark-to market is not anymore mark-to-market … So … now everything is possible … enjoy the time until reality comes back … – FASB’s new guidance allows banks and their auditors to use “significant judgment” when valuing the illiquid assets such as mortgage securities. For example, if companies have [...]

Sometimes it is really unbelievable, what is happening in today’s world. And sometimes it beats everything. First … I thought, my English was not good enough … then … I thought, my math was not advanced enough … But … as now some intelligent people found out EXACTLY the same, we have to put a [...]