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Strategies & Market Trends : BAK - Investing
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To: batman10023 who wrote (346)3/1/2012 6:27:07 PM
From: Spin.  Read Replies (1) of 3249
 
well iAdvance was a profitable add-on available to the complete MPS userbase outside of tax products which is a limited subuniverse so i don't look at them as the same like you do.

im hoping there is a profitable niche for them so thats why i continue to hold. I watch MPS growth as my KPI to track if they are still winning program business vs it being eroded. I used to also track card issue count and transactions per card but they withdrew those metrics and would not reinstate them after i complained. If MPS erodes then I agree with you but it hasn't eroded so I continue to hold.

there is risk with this bank and the management are nice guys who are lacking with their lending book experience and emp. fraud issues. its not the next wfc - it may always stay cheap

yeah all assets are in reg capital but each will have a different risk weighting. The reason why they hold agencies vs mbs is that agencies are 0% risk weight vs 20% risk wright on MBS. So they cant reach for yield while trying to get to 8%. So land is 50% or 100% risk weight or something - id have to check. The loan book is running off as it has higher risk weight as well. All these help get capital back to 8%. They need to sell the trups holdings before they do capital raise imo. If they sell land and pump the cash into agencies you arb the risk weighting impact on capital.
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