Media Appearance: CNBC Fast Money (3.8.11)

March 8, 2011 5:00pm by Barry Ritholtz

Special Bank Rally Edition!

Tonight I will be on Fast Money on CNBC at 5:00 pm discussing the rally in B of A and the rest of the financials and what it might mean:

• Bank management is engaging in some wishful thinking about share buybacks and dividends; Most are still on Fed life support.

• Today’s bank rally lets you know exactly what the Street thinks about the proposed mortgage settlement with State AGs for a mere $20B. It reflects a belief that it is a giveaway/bailout; Like the BofA putback settlement for 1 cent on the dollar, banks are hoping for a replay.

• Many AGs in high foreclosure states — California, Florids, Michigan, Arizona, Nevada, etc. — won’t be able to sign off on the settlement lest they be run out of town ona rail.

• We are much more interested in what the charts say than what bank management has to say. Think back to this time in March 2008 — how many banks were warning shareholders of a coming apocalypse?

~~~

Video posted here

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment. The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client. References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. The Compound Media, Inc., an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers Please see disclosures here: https://ritholtzwealth.com/blog-disclosures/

twitter

facebook