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HomeLower Book Value of Banks Highly Correlates with Smoke and Mirrors
Posted by Larry Doyle on March 10th, 2010 11:05 AM |
Why do some banks seem to trade at cheap, if not depressed, levels?
Investors do not trust the valuations of the assets on the books of these banks. I highlighted this very point the other day in writing, “Where is Wall Street Hiding Hundred Plus Billion in Lo$$es?”
A recently released report from the American Banker addresses this point of questionable asset valuations, or what I define as ‘smoke and mirrors’. (more…)
