The Next Trade: Banks, Nonbanks and Mortgage Servicing Rights
Many of the startups, investment flows and SPAC transactions that proliferated in 2020-2021 are likely to be casualties in the next several
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The Institutional Risk Analyst
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Banks | Markets | Fintech
Christopher Whalen
R. Christopher Whalen
- Mar 28, 2022
- 6 min
Top Five US Banks: USB, JPM, WFC, C & BAC
Valuations for the top five US banks are up slightly as Q1 2022 comes to an end
353 views
R. Christopher Whalen
- Jan 27, 2022
- 6 min
Profile: Citigroup (C)
Why does this bank exist? What market does it serve and how will it grow in the future?
268 views
R. Christopher Whalen
- Jan 12, 2022
- 8 min
Q4 Earnings | Big Banks & QE
In the short-run rising interest rates and spreads will help bank earnings. But where is the next credit hot spot?
641 views
R. Christopher Whalen
- Jan 4, 2022
- 6 min
Mortgage Crises Yesterday and Today
As we move into Q4 2021 earnings, keep your eyes peeled for news of restructuring of urban commercial commercial and multifamily properties
777 views
R. Christopher Whalen
- Dec 13, 2021
- 11 min
A Bull Case for US Banks?
We ask whether bank fundamentals are starting to catch up to the very full equity market valuations , up 40% since the end of 2020
501 views
R. Christopher Whalen
- Dec 7, 2021
- 7 min
Fed Tightens Months Late, Even as it Attacks Liquidity
any of the problems that the Fed now seeks to fix, starting with the unnecessary elimination of LIBOR, are a function of earlier policies...
727 views
R. Christopher Whalen
- Nov 18, 2021
- 4 min
Profile: Raymond James Financial
RJF is one of those quiet high-performer banks in the investment world that few understand but many own in LT portfolio
319 views
R. Christopher Whalen
- Oct 25, 2021
- 6 min
Three Questions for Chairman Powell
Look for the FOMC to act early and go big in terms of forward repurchase agreements at the first sign of liquidity stress.
659 views
R. Christopher Whalen
- Oct 22, 2021
- 5 min
Profile: Western Alliance Bancorp (WAL)
WAL is one the best performing small banks in the US based upon equity market valuations, profits and growth rates
204 views
R. Christopher Whalen
- Oct 12, 2021
- 6 min
Bank Earnings Setup: Rebound to 2020
Many of the better managed financials that we track have become sellers of assets rather than buyers in the past several months.
315 views
R. Christopher Whalen
- Sep 20, 2021
- 11 min
The IRA Bank Book | Q3 2021
In the Q3 2021 edition of The IRA Bank Book, we document the slow destruction of US bank asset and equity returns by the FOMC.
354 views
R. Christopher Whalen
- Sep 9, 2021
- 6 min
The IRA Top Ten Financials
Which US financial will best weather the coming equity market correction?
379 views
R. Christopher Whalen
- Aug 27, 2021
- 9 min
Profile: PNC v U.S. Bancorp v Truist Financial
U.S. Bancorp, PNC and Truist Financial hold great value creation potential. But which is likely to realize this potential?
343 views
R. Christopher Whalen
- Aug 23, 2021
- 7 min
Interview: Lee Smith, Flagstar Bank
We expect to see a lot more M&A activity over the next 12 – 18 months, as that’s the only way for some players to grow share.
739 views
R. Christopher Whalen
- Aug 3, 2021
- 5 min
G-30 Liquidity Panic: Standing REPOs and Centralized Clearing
Many of the changes to the US Treasury and REPO markets that were predicted in our comment this past May are coming to fruition.
756 views
R. Christopher Whalen
- Jul 23, 2021
- 5 min
Profile: Bank of America (BAC)
BAC is the worst performing bank in the top-five US commercial banks and often underperforms the average for Peer Group 1.
268 views
R. Christopher Whalen
- Jul 12, 2021
- 3 min
Q2 2021 Bank Earnings Setup | GS, JPM, FRC | NIM Lower for Longer
Cheap liquidity c/o the FOMC does little for bank earnings when asset returns are also falling
518 views
R. Christopher Whalen
- Jun 17, 2021
- 9 min
Upstart Holdings: Victory for AI? Or Not...
While the progress in machine learning is impressive, horsepower in terms of computational capacity does not translate into intelligence.
534 views
R. Christopher Whalen
- Jun 3, 2021
- 10 min
The IRA Bank Book Q2 2021: Lower Earnings Ahead
If you back reserve releases out of Q1 2021 bank results, revenues and earnings were down and trend is headed lower due to QE
348 views
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