Hints and tips:
...laura.noonan@ft.com Letter in response to this article: CFA qualification is my baloney detection system / From Alexander Ineichen, Oberaegeri, Switzerland...
...Mike Mayo, analyst at Wells Fargo, said that it is “the job of regulators to take a conservative lens, and the job of banks to highlight their favourable results . . ....
...“The main question is sustainability,” said Mike Mayo, an analyst, noting that the big gains on Goldman’s equity portfolio “probably won’t be recurring”....
...Mr Mayo said Goldman should do well in investment banking, partly because it was strong in the booming area of helping “blank cheque” Spac companies list, and partly because it traditionally won share in...
...Additional reporting by Laura Noonan...
...Mike Mayo, analyst at Wells Fargo, believes the largest US banks excluding Wells could buy back 15 per cent of their shares over the next two years....
...“This was a strong quarter but the outlook is mitigated by . . . a pull forward of the reserve release,” said Mike Mayo, analyst at Wells Fargo....
...Mayo is far from the only one repurposing a corner of his home into a gym....
...Mike Mayo, analyst at Wells Fargo, called for perspective. “One day does not make a favourable environment for banks and one day doesn’t make a bank stock rally....
...Mr Mayo added the best person for the job “could be Jane Fraser if she improves the consumer bank returns, but it could also be someone outside the firm such as [JPMorgan’s] Marianne Lake”....
...“Morgan Stanley was probably my best stock call of the last decade,” says veteran Wall Street analyst Mike Mayo of Wells Fargo. “But now we actually don’t recommend it....
...Mike Mayo, an analyst at Wells Fargo and longtime critic of Citi, told clients a “fresh look is good in our view since the prior CEO failed to reach Citi’s targets and move the company enough strategically...
...laura.noonan@ft.com...
...It is “the most high-profile stress test since the financial crisis”, according to the veteran banks analyst Mike Mayo....
...Mike Mayo, analyst at Wells Fargo, said the BlackRock sale reflected PNC’s “bearish” outlook and was a “savvy” move by Mr Demchak....
...Mike Mayo, analyst at Wells Fargo, said a higher take-up rate of forbearance “could be an indicator of inferior underwriting but could also be indicative of an extra effort to work with customers through...
...Mr Mayo said overall investment bank revenues “should be bouncing along the bottom now. The question is when and to what extent could revenues improve?...
...Mike Mayo, analyst at Wells Fargo, noted the weakness in Morgan Stanley’s investment banking business, where revenues fell 1 per cent year on year, a worse performance than Bank of America and Goldman Sachs...
...“JPMorgan Chase and Jamie Dimon usually lead the way in conservatism,” said Wells Fargo analyst Mike Mayo, adding that what was “really remarkable here is that they took a $9bn punch in the stomach and were...
...“The devil is in the detail, you can actively manage unused credit lines,” said Mike Mayo, banks analyst at Wells Fargo....
...“The bad news [from the accounting changes] is that reported bank earnings should get hurt more short-term than in the past with an economic slowdown,” said Mike Mayo, an analyst at Wells Fargo....
...“That’s a question that comes up,” said Mike Mayo, analyst at Wells Fargo, who believes halting dividends would be a “horrendous mistake” since it would send the signal that banks were not strong enough...
...“The moats around the largest banks are as deep as they’ve ever been,” said Mike Mayo, an analyst at Wells Fargo....
...“It’s a reversal of fortunes,” said Mike Mayo, banks analyst at Wells Fargo Securities. “For most of the last 85 years Goldman has been in the stronger position....
...The biggest savings will be at larger banks since “technology is a game changer for scale”, according to Mr Mayo....
International Edition