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Strategies & Market Trends : Value Investing
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To: lzc who wrote (35881)11/9/2009 1:35:41 PM
From: Spekulatius   of 78745
 
SSBI, well Carinelli bared his financing since he filed for bankruptcy so that is pretty much it. SSBI has in my opinion underreserved this quarter (probably just to remain in the black) and will have beef up reserved in future quarters.

Of course there could be similar cases like Carinelli lingering but they are probably smaller in size (since he is the largest landowner in Sonoma County) and SSBI tend to loan locally.I don't think the dividend is safe either, building reserves in this environment needs to come first. Quite a bit of calamity is priced in at this level though.
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