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Strategies & Market Trends : Value Investing
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To: E_K_S who wrote (34891)7/22/2009 12:20:58 AM
From: Spekulatius  Read Replies (1) of 78764
 
NYB not a bad bank and a low risk business model (mortgages on rent controlled properties) but they are trading at >2x tangible book. Earnings barely cover the dividend - the slightest problem and the dividend is due for a very deep cut, IMO.

FWIW, bought back some RF on todays dip. Even after accounting for losses in 2009/2010, they are trading far below tangible book.
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