The Institutional Risk Analyst

The public behavior and decision-making processes of SoftBank suggest that the organization is in trouble.

GS has the weakest position in terms of funding of the top-ten banks and no real narrative for the business post-Marcus.

We continue to believe that combining Citi and GS may make sense in terms of consolidating two capital markets businesses

S&P was the first to call out the growing lack of fiscal discipline in Washington, downgrading Uncle Sam in 2011

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.

If you agree with our view that the short-selling of the stock was mistaken, then the discount for SCHW is unwarranted.

The funding crisis affecting US banks is not over and very definitely not limited to smaller banks.

GS is a securities dealer first and foremost and has no comparative advantage as a bank.

Fact is, Dr. Brainard has primary culpability in the growing economic pain being felt around the country.

CEO Patrick Collison is guiding investors and the media to a $200 million profit in 2023. Selective disclosure??

The risk-adjusted return on capital for BK is negative and probably lower than Goldman, the highest risk large US bank

Ally is still more finance company than bank and really has no core deposit base worthy of the name.

The Fed’s de facto embrace of inflation encourages misallocation of economic resources on a grand scale....

Like most nonbanks (and Goldman Sachs is predominantly a nonbank), volumes are falling and funding costs are rising.

Whether we are talking about corporate credit exposures or housing, the short trade may be the place to be over the next year.

A number of readers have asked us to talk about the winners and losers among large banks in the current interest rate environment.

Total noncore funding at GS was over $700 billion at the end of Q1 2022 vs $321 billion for MS.

Simply stated, Morgan Stanley has a much more diverse and sustainable business model than Goldman Sachs...

Why does this bank exist? What market does it serve and how will it grow in the future?

As we move into Q4 2021 earnings, keep your eyes peeled for news of restructuring of urban commercial commercial and multifamily properties