Using Veritas to Construct the "Per…

29-04-2017 Hits:88603 BoomBustBlog Reggie Middleton

Using Veritas to Construct the "Perfect" Digital Investment Portfolio" & How to Value "Hard to Value" tokens, Pt 1

The golden grail of investing is to find that investable asset that provides the greatest reward with the least risk. Alas, despite how commonsensical that precept seems to be, many...

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The Veritas 2017 Token Offering Summary …

15-04-2017 Hits:82284 BoomBustBlog Reggie Middleton

The Veritas 2017 Token Offering Summary Available For Download and Sharing

The Veritas Offering Summary is now available for download, which packs all the information about Veritas in a single page. A step by step guide to purchasing Veritas can be downloaded here.

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What Happens When the Fund Fee Fight Hit…

10-04-2017 Hits:82176 BoomBustBlog Reggie Middleton

What Happens When the Fund Fee Fight Hits the Blockchain

A hedge fund recently made news by securitizing its LP units as Ethereum-based tokens and selling them as tradeable (thereby liquid) assets. This brings technology to the VC industry that...

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Veritaseum: The ICO That's Ushering in t…

07-04-2017 Hits:86672 BoomBustBlog Reggie Middleton

Veritaseum: The ICO That's Ushering in the Era of P2P Capital Markets

Veritaseum is in the process of building peer-to-peer capital markets that enable financial and value market participants to deal directly with each other on a counterparty risk-free basis in lieu...

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This Is Ground Zero for the 2017 Veritas…

03-04-2017 Hits:83103 BoomBustBlog Reggie Middleton

This Is Ground Zero for the 2017 Veritas Offering. Are You Ready to Get Your Key to the P2P Capital Markets?

This is the link to the Veritas Crowdsale landing page. Here is where you will be able to buy the Veritas ICO when it is launched in mid-April. Below, please...

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What is the Value Proposition For Verita…

01-04-2017 Hits:85225 BoomBustBlog Reggie Middleton

What is the Value Proposition For Veritas, Veritaseum's Software Token?

 A YouTube commenter asked a very good question that we will like to take some time to answer. The question was, verbatim: I've watched your video and gone through the slides. The exchange...

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This Real Estate Bubble, Like Some Relat…

28-03-2017 Hits:56329 BoomBustBlog Reggie Middleton

This Real Estate Bubble, Like Some Relationships, Is Complicated...

CNBC reports US home prices rise 5.9 percent to 31-month high in January according to S&P CoreLogic Case-Shiller. This puts the 20 city index close to an all time high, including...

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Bloomberg Chimes In With My Warnings As …

28-03-2017 Hits:84567 BoomBustBlog Reggie Middleton

Bloomberg Chimes In With My Warnings As Landlords Offer First Time Ever Concessions to Retail Renters

Over the last quarter I've been warning about the significant weakness in retailers and the retail real estate that most occupy (links supplied below). Now, Bloomberg reports: Manhattan Landlords Are Offering...

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Our Apple Analysis This Week - This Comp…

27-03-2017 Hits:84260 BoomBustBlog Reggie Middleton

Our Apple Analysis This Week - This Company Is Not What Most Think It IS

We will releasing our Apple forensic analysis and valuation this week for subscribers (click here to subscribe - lowest tier is the same as a Netflix subscription). As can be...

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The Country's First Newly Elected Lame D…

27-03-2017 Hits:84119 BoomBustBlog Reggie Middleton

The Country's First Newly Elected Lame Duck President Will Cause Massive Reversal Of Speculative Gains

Note: Subscribers should reference  the paywall material here for stocks that should give a good risk/reward scenario for bearish trades. The Trump administration's legislative outlook is effectively a political desert, with...

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Sears Finally Throws In The Towel Exactl…

22-03-2017 Hits:90620 BoomBustBlog Reggie Middleton

Sears Finally Throws In The Towel Exactly When I Predicted "has ‘substantial doubt’ about its future"

My prediction of Sears collapsing once interest rates started ticking upwards was absolutely on point.

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The Transformation of Television in Amer…

21-03-2017 Hits:88188 BoomBustBlog Reggie Middleton

The Transformation of Television in America and Worldwide

TV has changed more in the past 10 years than it has since it's inception nearly 100 years ago This change is profound, and the primary benefactors look and act...

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For those who were doubtful of my research and stated positions in the big name brand banks, I think a recap is in order. I have taken strong bearish positions on a few of the most revered name brands, to the dismay of people who should really know better than to doubt my investment acument. Before we get to the performance of my contrarian name brand play, let's peruse a recent Bloomberg article extract:

Fed Defies Transparency Aim in Refusal to Identify Bank Loans  

Nov. 10 (Bloomberg) -- The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.

Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn't require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return.

``The collateral is not being adequately disclosed, and that's a big problem,'' said Dan Fuss, vice chairman of Boston- based Loomis Sayles & Co., where he co-manages $17 billion in bonds. ``In a liquid market, this wouldn't matter, but we're not. The market is very nervous and very thin.''

Bloomberg News has requested details of the Fed lending under the U.S. Freedom of Information Act and filed a federal lawsuit Nov. 7 seeking to force disclosure.

The Fed made the loans under terms of 11 programs, eight of them created in the past 15 months, in the midst of the biggest financial crisis since the Great Depression.

 I can give you a few guesses where that money probably went. Just peruse the performance post and mark the commercial and investment bank names on the list, starting with the  Riskiest Bank on the Street and the Golden Boys mentioned below, then work your way down to The Anatomy of a Sick Bank!. I am sure some of those big name brands are in a lot more trouble than they let on.

Now, on to how my contrarian name brand plays have been doing...

Goldman Sachs with the name brand conscious (yet financially unconscious) investors saying they are too well connected to fall, smarter than the rest, best name brand on the street, blah blah, blahhh. For non-subscribers, here is a dated Goldman analysis available for free download  pdf professional_gs_report_sample 350.12 Kb. Of course, 6 or 7 months later the sell side banks are dropping estimates on Goldman and Morgan, but you heard it in the beginning of the year from me. GS is currently in the mid 70's, down from one hudred and eighty dollars when the first report came out.

From Bloomberg... Goldman, Morgan Stanley Earnings Estimates Reduced by JPMorgan Nov ... ... before converting to bank holding companies in September, had their fourth-quarter and 2009 earnings estimates cut by JPMorgan Chase & Co. Goldman may lose 58 ...
From Reggie Middleton...
Here is my detailed opinion on Goldman Sachs. Be sure to review my precursor to this report: Goldman Sachs Snapshot: Risk vs. Reward vs. Reputations on the Street. Anybody who is interested in how I
Wednesday, 23 July 2008

... Fed keeps banks afloat as money market crisis deepens - what banks do you think they are referring to??? Goldman Sachs and Morgan Stanley. The run on the prime brokerage accounts of Morgan Stanley h...
Thursday, 25 September 2008

 

7. Reggie Middleton on Goldman Sachs Q3 2008
(Archived/Reggie Middleton's Boom Bust Blog/MyBlog)
...rish view on Bear Stearns in a bear market and Is this the Breaking of the Bear's Back?), I am bearish on Goldman as well (Goldman Sachs Snapshot: Risk vs. Reward vs. Reputations on the Street and Re...
Tuesday, 16 September 2008

8. Goldman Sachs Snapshot: Risk vs. Reward vs. Reputations on the Street
(Archived/Reggie Middleton's Boom Bust Blog/MyBlog)
...t shared by most of the analyst community and those that follow them. This brings me to the issue of Goldman Sachs. I have been bearish on commercial, mortgage and investment banks for over a y...
Friday, 04 July 2008
 
...businesses. I went through this in detail when analyzing and valuing both Morgan Stanley and Goldman Sachs, as well detailing the risks in these companies' trading practices and off bala...
Monday, 08 September 2008

11. What are the chances that I influenced the thinking on Goldman???
(Archived/Reggie Middleton's Boom Bust Blog/MyBlog)
... months now. I have harped on this fact throughout the summer and released analysis in July, a precursor - Goldman Sachs Snapshot: Risk vs. Reward vs. Reputations on the Street and the actual forensic...
Thursday, 14 August 2008

12. The newest Goldman Report: the Goldan Boys as a Bank Holding Company
(Reggie Middleton's Boom Bust Blog/MyBlog)
Here is the latest report on Goldmans Sachs, which I am still actively pursuing in my proprietary accounts. It has been a most profitable trade from the 180's, unfortunately I failed to follow my in- Monday, 20 October 2008
 

Then there is HSBC, so far down about $20 since my warning, with a LOT more room to fall: Bloomberg -

HSBC Holdings Plc, Europe's biggest bank, set aside a more-than-estimated $4.3 billion in the third quarter for bad loans in the U.S. and forecast ``further deterioration.''

HSBC fell as much as 2.4 percent in London trading today after the company said in a statement that the U.S. unit ``declined markedly'' because of consumer and corporate loan defaults and writedowns of $4.8 billion on asset-backed securities in the quarter. Net income was higher than the year-earlier period, helped by $3.4 billion in accounting gains on its debt and the sale of banks in France.

HSBC, the first European bank to take U.S. subprime writedowns, has lost $38 billion on bad loans from the start of 2006 through the first half of this year, and third-quarter provisions exceeded the $3.7 billion median estimate of three analysts surveyed by Bloomberg. Still, HSBC Chairman Stephen Green said last month the bank has sufficient capital and no plans to get assistance from the U.K., which plans to inject capital into Royal Bank of Scotland Group Plc, HBOS Plc and Lloyds TSB Group.

``We expect Asian growth to remain relatively more resilient, although it is not yet apparent to what extent governments will succeed in encouraging stronger domestic demand to counterbalance export weakness,'' the bank said. HSBC gets more than three quarters of its profit in emerging markets. London-based Standard Chartered Plc said growth in Asia is ``moderating.''

Reggie Middleton's take as far back as July...

1. Part one of three of my opinion of HSBC and the macro factors affecting it
(Archived/Reggie Middleton's Boom Bust Blog/MyBlog)
HSBC Holdings, one of the largest global banks, has remained relatively unaffected by the ongoing credit turmoil and housing downturn in the US until now. The bank has outperformed its peers, most of
Wednesday, 13 August 2008

2. HSBC 1H 08 results update
(Archived/Reggie Middleton's Boom Bust Blog/MyBlog)
Decline in net income HSBC’s net income fell 29% y-o-y to US$7.72 billion (or US$0.65 per share) in 1H 08 from US$10.9 billion (or US$0.94 per share). The bank’s profitability de
Wednesday, 13 August 2008

3. A glance at HSBC - Did the market miss this one?
(Archived/Reggie Middleton's Boom Bust Blog/MyBlog)
I have started looking into HSBC. The bank has significant exposure to risky assets and incurred huge losses in the personal finances division in the US last year. Despite this, there has not been mu
Sunday, 06 July 2008

4. I won't say I told you so, again
(Archived/Reggie Middleton's Boom Bust Blog/MyBlog)
My warnings on Goldman Sachs, Morgan Stanley, and CDS have born fruit, by the bushels, for those who have heeded it. The Doo Doo 32 and commercial real estate shorts will be revisited soon, for they
Monday, 15 September 2008

  If you read the global macro section in the HSBC report, then my China macro pieces, you will see where the hopes of Asia and the middle east supporting HSBC are fallacy, at best.

Next up, and last on the list is Wells Fargo. These guys have killer exposure, but since Warren Buffet invests in them, they can't go down, Right???

Not only, that but they are buying all of these high quality assets to offset their California and Florida HELOC exposure...

Wells Fargo Raises $11 Billion in Stock for Wachovia (Update2) Nov ... Wells Fargo Raises $11 Billion in Stock for Wachovia (Update2) Nov. 7
(Bloomberg) -- Wells Fargo & Co., the biggest bank on the ...
- 2008-11-07 

Reggie's take:

1. Doo Doo 32 Bank Drill Down 1.5: The Forensic Analysis of Wells Fargo
(Archived/Reggie Middleton's Boom Bust Blog/MyBlog)
Tuesday, 10 June 2008

2. Doo-Doo bank drill down, part 1 - Wells Fargo
(Archived/Reggie Middleton's Boom Bust Blog/MyBlog)
...bank is,,, (drum roll in the backgroud, crescendo.... I know some of you hate it when I do this........) Wells Fargo! I can hear a few of you naysayers cackling behind your computer screens as I type ...
Thursday, 29 May 2008

 For the record, I believe that any new subscribers that came on board and acted on the last rew reports and actionable items more than recouped their subscription fee for several years. You guys owe me a dinner, or at least a beer.