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The Institutional Risk Analyst
© 2003-2025 | Whalen Global Advisors LLC All Rights Reserved in All Media | ISSN 2692-1812
Banks | Markets | Finance


Critiquing Bill Ackman Statement on GSE Release
Cute reference to "average cost," but total return to date would be of greater interest.
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Jan 28 min read
2,533 views


Update: Top Bank Asset Managers
As and when GS can exit the loss leading credit card relationship with AAPL, the performance of the business should improve significantly.
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Dec 30, 20248 min read
233 views


Update: Has Jane Fraser Redeemed Citigroup? Nope.
Citi seems to be tracking the group now, whereas pre-COVID the stock significantly underperformed in terms of market beta. But performance?
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Dec 18, 20247 min read
553 views


Liquidity Preference: SVB Financial Group, WaMu & Reemerging GSEs
Selling the Treasury's control position in the GSEs while dragging the furious shareholders along behind is not an attractive opportunity
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Dec 12, 20247 min read
498 views


Kamikaze GSE Release? Oh Yeah...
Yes, that's right, we are going to downgrade $8 trillion in GSE MBS and hundreds of billions in corporate debt.
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Dec 10, 202415 min read
3,467 views


WGA Bank Top 10 Index | Time to Short Financials?
When SCHW surpassed U.S. Bancorp in size in 2021, you knew that SCHW’s leadership had gotten lost.
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Dec 9, 20249 min read
482 views


Q: Is JPMorgan Overinflated?
The banking industry has segmented into a handful of above-average performers and JPM is the largest leader of these "winners"
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Nov 11, 20245 min read
1,383 views


Fed Duration Trap Threatens Banks, SOMA
It’s time for the Fed to get smart on duration risk before circumstances create another money market crisis.
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Nov 1, 20248 min read
1,098 views


Powell Overshoots the Runway; Update: American Express & Charles Schwab
Last year, when a lot of people were predicting the demise of SCHW, we told our readers to calm down.
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Oct 23, 20247 min read
708 views


Update: Citigroup, Bank America and Goldman Sachs
How is Goldman going to extricate itself from this profoundly unattractive business with AAPL without destroying Apple Card?
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Oct 18, 20247 min read
458 views


Should TD Bank Rethink US Retail?
WFC is not even out of dodge yet, but TD has cut off the fingers of one hand in yakuza style and is now headed for years of misery
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Oct 16, 20246 min read
701 views


Will Rohit Chopra Kill Basel III? Shrinking NIM at JPM and WFC
In opposing Basel III, Chopra is doing the bidding of Senator Elizabeth Warren (D-MA) but big banks are very happy to have no rule at all.
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Oct 14, 20245 min read
642 views


Citigroup + (Cenlar - Black Knight) = ?
The Citi decision to exit mortgage servicing perhaps made sense in 2017, but today not so much.
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Oct 9, 20247 min read
417 views


The Bull Case for Large Banks
If you believe that there is no recession coming in 2025, what is the logical response from an informed investment professional?
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Oct 1, 20246 min read
610 views


GSE Release Under Trump? Post-Rate Cut Margin Calls??
Why should a private Fannie Mae be a 20% risk weight under Basel III, but PFSI or Mr. Cooper (COOP) are 100%?
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Sep 22, 20248 min read
487 views


IRA Bank Book Q3 2024 Industry Survey
The Q3 interest rate rally still leaves the industry with a negative
capital position since the average securities yield is only 3%
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Sep 16, 20242 min read
369 views


WGA Bank Top 100+ | Large Banks Retreat, Small Banks Rise
The big story nobody is discussing is the fact that large banks led by JPM, BAC and TFC continue to sell off briskly
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Sep 11, 20245 min read
428 views


Banks: Passive Strategies Lag Active Management
In the third quarter of publishing the Indices, so far picking quality banks seems to matter more than following the passive ETF herd
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Sep 4, 20245 min read
470 views


Universal Banks: Should TD Buy Schwab & Sell Its US Operation?
SCHW needs to take advantage of their strong operating leverage and repair some needless damage done during COVID by inept bank management.
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Aug 25, 20247 min read
769 views


The Top Seven Banks: JPM, BAC, C, WFC, USB, PNC & TFC
Banks lose money every single day by holding onto a below market security from the 2019-2021 period.
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Aug 18, 20249 min read
701 views
Christopher Whalen
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