Company Reports

Deutsche Bank 3Q16: Midget Performer in Big Bank World

10/28/2016

Deutsche Bank's earnings were pathetic and on an economic basis even worse than that. There is a confidence booster chant going around in last ditch effort to avoid catastrophe. Stakeholder Stack should take defensive measures & NOW!!


GS 3Q16: Lucky Goldy, Slow Summer But Tech Gold

10/21/2016

Goldman Sachs surf-boarded the tech industry's huge issuance activity in the 3Q16. Without it and its equities investments, it would be another blah EPS quarter. Will Marcus beat Watson? Read on.


WFC 3Q16: X-Sell Mirage Meltdown or Temporary Crisis?

10/18/2016

Wells Fargo needs more 'xplaining to do, and the recent earnings call was too coy on the fixes. We are Buy on capital stack: debt & equity on related spread widening and price declines. WFC WFC Wells Fargo Wells Fargo


Deutsche Bank: Diabolic Debt Funding, Taking Stealth Underworld Actions to Survive

10/11/2016

It's almost over for Deutsche Bank as it frantically scrambles worldwide to cobble together an equity capital injection and attempts to hold its weak lliquidity/funding in-place. Needs Germany to step up and intervene.


Deutsche Bank: On Life Support, Will It Pull Out?

10/03/2016

Deutsche Bank's problems are not only impacting its Stakeholder Stack, but igniting concerns across Europe. As the Germans holiday today, European risk is rising. We point out the next batch of weakened banks that will shake things up. And of course DB!


DB: Dead & Buried?

09/26/2016

Deutsche Bank is about to pierce stock single digits as its mounting woes magnify. Viola Risk was warning of this back in early August and we will have a series of more articles on the death spiral developing.


Wells Fargo: Allís Well That Ends Well? Not!

09/19/2016

WFC’s stakeholder stack needs answers from the C-suite as to what are the new financial metric strategy, targets, goals and mantra now that cross-selling has failed in its mission to accrete shareholder value and induce bondholder/risk manager security. 

At this point we continue to believe that Wells Fargo is a systemically strong company that has created enormous shareholder value over the last ten years, more so than any bank in the US and the world. We recommend buying at these lower stock and bond/cds levels. Maintain counterparty risk exposures. WFC WFC Wells Fargo Wells Fargo


Deutsche Bk: Death March Math, Capital Whacked By Level 3s

08/29/2016

Deutsche Bank's desperate situation is further imperiled by its seriously illiquid Level 3 assets. In the last 2 years, there has been a de minimus amount of outflows whether payments, maturities or more importantly sales. This is a bad sign as DB is in desperate need of capital now, not over long-time periods that the Level 3s are schedule to pay off on. We believe that opportunistic investors would pay very little to “no bid” on these highly complex and customized structures with no market liquidity.  DB DB DB Deutsche Deutsche Deutsche


Deutsche Bank: The Rise & Fall of the Fourth Bkg Reich

08/02/2016

The Viola Risk Advisor "systemic risk" indicator shows Deutsche Bank's desperate situation. Based on this metric, it would take DB roughly 14 years to rebuild its capital shortfall with core operating earnings compared to U.S. big banks (~2 years) & Canadian banks (~ 1 year).


MS 2Q16: Slaughter Old Goats, Heard Young Lambs

07/21/2016

MS turning around its Shareholder Value-Added trend to the positive which should boost its Stakeholder Stack values across equity & debt. Regulatory risk highest of majors.


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