Using Veritas to Construct the "Per…

29-04-2017 Hits:85773 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:80003 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:79864 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:84342 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:80884 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:83130 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:54140 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:82264 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:82117 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:81985 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:88010 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:85884 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 that adhered to my stating that patience is a virtue and had confidence in my research, the Doo Doo 32 (As I see it, these 32 banks and thrifts are in deep doo-doo!) and related banks have collectively paid off for the third time since the spring. Seldom do you get to profit from the same researched position twice, not to mention three times! If we can get the goldilocks bulls to participate in another unrealistic and fundamentally unfounded bear market rally, there may even be a fourth, but methinks even the most dense of so-called investors have to get tired of losing money eventually. But then again, you'll never know. After all, Treasury Secretary Paulson, that bastion of truth and lucid analytical talent, did say the worst was behind us some time ago - Reggie Middleton says don't believe Paulson: S&L crisis 2.0, bank failure redux.

Click the graphic to enlarge to printer quality

 doo_doo_32_chart.gif

  1. HBC was not a member of the initial Doo Doo 32, but came up as part of one of my periodic macro studies wherein I found a big potential hole in the banks future earnings stream and balance sheet - see the China Macro Update... 600% later and 6 months later...  666: That's the sign of your big broker giving you bad investment advice!
  2. Wells Fargo has Warren Buffet, the most branded of the big name brands as a major investor. They couldn't possibly do any wrong - unless you looked at their balance sheet and read between the lines. 200%, 3x over later...
    1. Doo-Doo bank drill down, part 1 - Wells Fargo,  
    2. Doo Doo Bank 32 Drill Down 1.5: Wells Fargo Bank,
    3. Wells Fargo ABS Inventory Wells Fargo ABS Inventory 2008-08-30 06:40:27 798.22 Kb
    4. Don't forget that they ate a dying corpse: Wachovia ABS Inventory Wachovia ABS Inventory 2008-08-30 06:39:41 0 bytes
  3. JP Morgan wasn't a sick bank, until it started swallowing diseased entities, about 105% later (damn, only a one banger. I must be slippin'!): The Anatomy of a Sick Bank!, then they ate WaMu ABS Inventory WaMu ABS Inventory 2008-08-30 06:40:08 1.10 Mb, which I warned about diseases as far back as September of 2007. They had the nerve (or were forced) to do this after eating Bear Stearns, whom I made clear was going out of business 3 months before they collapsed. I haven't went over their latest numbers, but I warned about the sudden drop to be expected a few weeks ago, plenty of time to have prepared to make some money. pdf  JP Morgan Forensic Highlights 2009-01-06 19:18:08 133.34 Kb . I'll have an update out in a day or two.
  4. SIVB wasn't on the original Doo Doo, but a bank that loans to venture capital funds and start ups in this environment? Come on. A quick 100%+ there -
    1. pdf  SIVB Forensic Analysis Pro 2008-12-19 12:40:15 468.82 Kb,
    2. pdf pdf  SIVB Forensic Analysis Retail 2008-12-19 12:41:48 266.05 Kb
  5. PNC Bank seemed to have a few of my subscribers nervous, since I was the only one in the country bearish on them last year. Then again, the same could be said for just about every bank in the Doo Doo 32 at the time it was written. Well, in regards to PNC, 100% gains... 3x over -An overview of my personal Regional Bank short prospects Part I: PNC Bank - risky loans skating on razor thin capital, PNC addendum Posts One and Two
  6. Sun Trust Bank, another repeat donation to the cause - about 250%, roughly 3x over! There inventory simply screams failure:
    1. Doo-Doo Bank 32 drill down: Part 3 - SunTrust Bank
    2. and Sun Trust Forensic Analysis
  7. Doo-Doo Bank 32 drill down: Part 2 - Popular
  8. GE: The Uber Bank??? Was I one of the first to warn on this bellweather? Actually, no. A reader brought it to my attention, but well before Street and the media caught on. Good for 100% or so.
  9. I call first dibs on Amex!!! Nobody had a clue, except for BoomBustBloggers, of course! 120%, volatile as hell though -  spreadsheet  AXP Consolidated final 2008-08-30 06:28:15 437.96 Kb
  10. Anybody who follows my work could not possible have been surprised by the recent news concerning BofA. First they ate Countrywide! Of all banks, Countrywide! What else could you have expected? Then they had the nerve to buy the biggest subprime problem still in existence, Merrill Lynch! It is not as if they were squeaky clean to begin with. Look at what they carried on their books before either purchase: BAC ABS Inventory BAC ABS Inventory 2008-02-25 06:48:09 0 bytes. Rumor has it that Ken Lewis was trying to quickly become too big to fail. This just in from Bloomberg:

    Jan. 16 (Bloomberg) -- The U.S. government agreed to invest $20 billion more in Bank of America Corp. and backstop a $118 billion asset pool to help the lender absorb Merrill Lynch & Co. and prevent the financial crisis from deepening.

    The government agreed to the rescue “as part of its commitment to support financial market stability,” the Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. said today in a e-mailed joint statement. Whoaa, big fella. $163 BILLION ($25 billion TARP, plus the $138 mentioned above - $118 being guarantees which will be hit, trust me) of your tax dollars going straight to B of A. BAC shareholders will be the poster children of the concept of dilution, as they invest in what will essentially be a government run financial utility.

    Thursday's 18% stock-market drop gives the Charlotte, N.C., bank a market value of $41.8 billion, a sum below the $46 billion in shares it originally offered for Merrill. Exactly one year and 7 days ago, I told my readers this would happen! There was no way in the world BAC could pull off these asinine acquisitions at this shotgun clip! I want all to be aware that this corporate welfare system is detrimental to the financial economy in the long run. Darwin is probably doing backflips in his grave right now. The meek (or weakest in business execution) will inherit the banking earth!?? As long the government continues to prop up these zombie, walking dead institutions, the the longer you will have to put up with me talking trash about 300% and 400% annual returns. If the market would be allowed to do its job, I wouldn't be able to extract that level of premium out of Mr. Market, but I guess the Treasury, the SEC and the Fed must like me. Unfortunately, they seem to be willing to enrich me at the expense of the rest of the country! Even I (a prime benefactor of this nonsense!) must say, enough is enough!

If everybody knew what was wrong with these banks, why in the world are so many people still losing money by trying to go long in them? Why is the government waiting so long to take action? I warned two years ago, explictly and it detail! Why doesn't someone donate a BoomBustBlog membership to the Obama Economic Advisory team?
  1. More on the banking backdrop, we've never had so many loans!
  2. A little more on HELOCs, 2nd lien loans and rose colored glasses
  3. Capital, Leverage and Loss in the Banking System