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Strategies & Market Trends : Fundamental Value Investing
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To: bruwin who wrote (921)5/9/2009 3:18:58 AM
From: Spekulatius  Read Replies (2) of 4719
 
re WFC. The Stress test looks at Tier 1 C(common stock capital) rather than total Tier 1 (which includes preferred stock including those from the TARP program) in the case of WFC the difference is huge - WFC has only 33B$ in common capital but 86B$ in total Tier 1.

financialstability.gov

I was right that WFC had to raise capital but of course as we now know it does not matter since the stock of all banks are up anyways. We will see. I claim that bank stocks right now are not cheap unless the economy really turns around with a vengeance.
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