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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The Institutional Risk Analyst
© 2003-2024 | Whalen Global Advisors LLC All Rights Reserved in All Media | ISSN 2692-1812
Banks | Markets | Finance
R. Christopher Whalen
Jul 175 min
Bank Earnings: JPM, BAC, AX, GS & SCHW
GS saw loss provisions fall slightly in Q2 2024 to $282 million but the number was still $600 million in the first half of the year...
475 views
R. Christopher Whalen
Jul 37 min
Who Leads the Asset Gatherers? | SCHW, MS, GS, AMP, RJF & SF
The larger banks led the way in January and February, but today the top 25 names in terms of total return include many smaller banks.
587 views
R. Christopher Whalen
May 157 min
The Bull Case for Large Banks
Big banks have big CRE exposures, too. So what drives this marvelous progression up the wall of worry?
562 views
R. Christopher Whalen
Apr 176 min
Update: Bank of America & Charles Schwab
BAC is in big trouble, not due to credit but because of sub-par asset returns. BAC’s return on assets has fallen to just 0.8% in Q1 2024
637 views
R. Christopher Whalen
Oct 17, 20234 min
Charles Schwab Unwinds the QE Trade
Rising interest rates are not good for bank earnings or bank equity valuations.
1,565 views
R. Christopher Whalen
Sep 27, 20239 min
SoftBank as Systemic Event; Update: Charles Schwab & Co
The public behavior and decision-making processes of SoftBank suggest that the organization is in trouble.
1,278 views
R. Christopher Whalen
Sep 25, 20236 min
Will Fannie Mae & Freddie Mac Raise Guarantee Fees?
With a 75bp average total gfee, would the market for private label MBS return? Or would conventional lending volumes simply crater?
897 views
R. Christopher Whalen
Sep 21, 20236 min
FSOC Frets About Nonbank Risk; Goldman Sachs Stepping Back?
GS has the weakest position in terms of funding of the top-ten banks and no real narrative for the business post-Marcus.
609 views
R. Christopher Whalen
Sep 11, 20233 min
Bank Industry Review & Survey Q3 2023
The US banking industry has seen now two consecutive down quarters for net income caused by the Fed’s massive open market operations
864 views
R. Christopher Whalen
Aug 23, 20236 min
Update: Goldman Sachs + Citigroup; Interest Rates Higher Longer?
We continue to believe that combining Citi and GS may make sense in terms of consolidating two capital markets businesses
634 views
R. Christopher Whalen
Jul 20, 20235 min
Update: U.S. Bancorp & Goldman Sachs
We expect to see USB trading at a discount to JPM and Peer Group 1 until the bank improves its operating leverage to pre-COVID levels.
537 views
R. Christopher Whalen
Jun 21, 20235 min
Update: GS, MS, SCHW, RJF & SF
If you agree with our view that the short-selling of the stock was mistaken, then the discount for SCHW is unwarranted.
887 views
R. Christopher Whalen
Apr 19, 20237 min
The Bank Deposit Run Is Not Over
The funding crisis affecting US banks is not over and very definitely not limited to smaller banks.
4,569 views
R. Christopher Whalen
Apr 3, 20236 min
Update: Charles Schwab (SCHW); Sagent Presentation
Most major banks grew larger during quantitative easing. Now many of these banks will shrink in terms of assets and also earnings in Q1 2023
4,350 views
R. Christopher Whalen
Jan 4, 20237 min
Update: Truist, Charles Schwab, U.S. Bancorp & PNC Financial
The largest banks continue to serve as a haven for refugees from crypto fraud schemes and the fintech swoon, but are not cheap
767 views
R. Christopher Whalen
Aug 15, 20229 min
Universal Banks | Morgan Stanley, Goldman Sachs, Charles Schwab, Raymond James & Stifel
Total noncore funding at GS was over $700 billion at the end of Q1 2022 vs $321 billion for MS.
539 views
R. Christopher Whalen
Apr 17, 20226 min
Profile: Morgan Stanley vs Goldman Sachs
Simply stated, Morgan Stanley has a much more diverse and sustainable business model than Goldman Sachs...
438 views
R. Christopher Whalen
Nov 18, 20214 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
331 views
R. Christopher Whalen
Sep 9, 20216 min
The IRA Top Ten Financials
Which US financial will best weather the coming equity market correction?
390 views
Christopher Whalen
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