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John Buckingham, CIO of Al Frank Asset Management, Talks Banks and Citi Pessimism
Posted by: Holly LaFon (IP Logged)
Date: July 16, 2013 10:32AM

Guru John Buckingham is not impressed with Citigroup (C), and discusses JPMorgan (JPM) and Wells Fargo (WFC).




Guru Discussed: John Buckingham: Current Portfolio, Stock Picks
Stocks Discussed: C, JPM, WFC,
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Re: John Buckingham, CIO of Al Frank Asset Management, Talks Banks and Citi Pessimism
Posted by: smgacm (IP Logged)
Date: July 22, 2013 09:22AM


This investor seems to miss the point of effective capital allocation. Arguing that dividend yields are the best way to value a bank stock seems misguided. Citi's management has repeatedly stated that repurchases are a superior way to deal with excess earnings if the stock price is low relative to book value. I would argue that Klarman's admonition to "buy assets and sell earnings" would be a better way to frame this discussion.



Guru Discussed: John Buckingham: Current Portfolio, Stock Picks
Stocks Discussed: C, JPM, WFC,
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