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Quite few people have emailed me asking, some a little less politely than others, how is it I come to the conclusion that XYZ company is insolvent when all of the "highly paid", "professional" analysts and pundits on the street come to a totally different conclusion. Well, , I think we should judge credibility by track record. For those who either forgot or didn't know, I have taken the liberty to compare my record with those of the "Street" just to set the record straight. See Blog vs. Broker, whom do you trust!.

Please click the graph to enlarge to print quality size. 


 I also get emails saying, "You alleged blah, blah about my favorite company, yet I am sitting here with XYZ 10k right in front of me and I don't see blah, blah, yada, yada! How is it that you have the right to spread falsehoods and rumors about so? You should be ashamed of yourself". Well, my friends, just because you don't see something doesn't necessarily mean that it is not there. Often, you have to look past and beyond just a 10k. You also have to scan every word of every footnote. I was challenged by many on my accusations of JP Morgan's solvency, primarily by those who had a problem reconciling the fact that JPM was carrying a much larger amount of NPAs on its books than the 10k's and 8k's apparently stated. Well, they stated just what I said, they just couched the statements in a language that they knew would fly over the layman's head. Well, you can only do that for bust so long before I catch' ya. And voila, these are the last two articles that I wrote concerning JP Morgan over the last 30 days or so! 

Of course, paying subscribers are offered plenty of proof to back up my assertions and allegations, but then again, they are paying, aren't they?

pdf  JP Morgan Q408 quarterly valuation opinion - Retail 2009-01-22 08:49:26 79.24 Kb

pdf  JP Morgan Q408 Quarterly opinion with sample trades - Professional & Institutional 2009-01-22 08:48:02 211.69 Kb


Well, this is JP Morgan in the news yesterday. Told' ya so! 

JPMorgan warns of more housing woes - ‎21 hours ago‎
The New York City-based bank said "non-credit impaired" loans would suffer in 2009 due in large part to the ongoing decline in home prices across the ...
And while we're at it, I posed a warning on GE in the summer of last year (GE: The Uber Bank???). What's the relevance? Well, you should be cognizant of the honest and/or accuracy of management's comments. If I am not mistaken, I could have sworn that I heard GE's CEO sat that he would not have to cut the company's dividend...  Must be me in my old age.
From the WSJ: General Electric is cutting its quarterly dividend to 10 cents a share from 31 cents a share, saving $9 billion a year, CNBC reported. The move comes amid a steep slide in the company's stock price. The company's financial services operations have been hit hard by losses and delinquencies during the credit crisis and economic downturn in the past 18 months.


  1. I will try to post the full Wynn forensic analysis tonight or tomorrow morning.  
  2. I will be raising subscription prices very soon in a move to come closer to (but still undercut) market prices, so anybody who is on the fence should take the plunge now, or face a price increase later on.