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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (93946)	8/28/2012 3:53:45 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 218645

TJ, as I wrote you where plain lucky related to selling at the top. As aside note just to know, by December 2004 January 2005 I prepared a research note to Bank HaPoalim, a bank with close to 100 billion in assets, a warning of the US RE debacle to occur within 2 years - meaning Q1 of 2007, and some of their more wealthy billionaire clients changed their investment policy in US RE as a result. The bank itself laugh me out of the door and claimed that I am a perennial pessimist, and have no formal economic education or a PhD in economics, to be an authority to opinion on those matters. Those facts can be checked even that the bank steadfastly clings on its claim mention above - their definition of my research note “every broken clock is correct once a day”. The result for Bank HaPoalim? - In 2008, Bank Hapoalim recorded a net loss of NIS 895 million. During the financial crisis, the bank sold its New York-based mortgage backed security operations significantly below its former book value which was the main reason for the negative performance that year. Pre-tax profit from operations was well over NIS 700 million. Total loss from US RE around NIS 1,600 million.