GuruFocus Premium Membership

Serving Intelligent Investors Since 2004

Try It 100% FREE for 7 Days!

Holly LaFon
Holly LaFon
Articles (4282) 

John Buckingham, CIO of Al Frank Asset Management, Talks Banks and Citi Pessimism

July 16, 2013 | About:
Guru John Buckingham is not impressed with Citigroup (NYSE:C), and discusses JPMorgan (NYSE:JPM) and Wells Fargo (NYSE:WFC).

Rating: 3.7/5 (3 votes)


Smgacm - 2 years ago

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.

Please leave your comment:

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)