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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (21714)	7/20/2005 9:57:48 PM
From: Spekulatius	Read Replies (2) of 78666

re C and BAC - i looked at the presentation that comes with BAC's and C's earnings. Both contain some interesting tidbit's especially in the case of C. citigroup.com - C's leverage has decreased and BAC's leverage has increased YOY. In particular C states that they are not participating in the riskiest loans (IO loans, aggressive ARM's and negative amortization loans) i think BAC has been a player in the segments that C avoided but i can't say for sure. - For both C and BAC, credit quality has improved except fore Card's - BAC has done a better job managing costs - C's ROA is still better than BAC's - nice dividend increase for BAC (from 0.45$ to 0.5$) Both banks look OK with respect to their balance sheet. Earnings quality appears a bit better for C. If you want to see a really stretched balance sheet have a look at WM. I bought some more C, this AM. Wanted to wait for sub 44$ but with the dividend payment due in a couple of days, I decided we are close enough.

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