DOOM: Morgan Stanley, Goldman Sachs Fall Below Tangible Book Value

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DimPrawn replied

10 January 2016, 09:30
Bank stocks have plunged amid a selloff that has erased $4 trillion from global equities this year ...

Analysis of Britain's £9 trillion of wealth reveals a deeply divided nation | UK | News | The Independent

The value of property and other personal assets grew by £1.5trn in 2014, the largest annual increase in household wealth since records began in 2001.

So that's where some of it went!

Boooooomed!
Leave a comment:
scooterscot replied

10 January 2016, 09:25
Margin Call, I remember watching it. The next step is to sell their worthless stock to anyone whose buying. Your granny if she's interested. We don't care if everyone else loses, we don't.

Buy nothing people. Buy nothing.

This is nice too:

Last edited by scooterscot; 10 January 2016, 09:42.
Leave a comment:
BrilloPad replied

10 January 2016, 08:21
All that QE and they still can't make money.

Anyone would think they offshored it or spent it on large bonuses.
Leave a comment:
AtW started a topic DOOM: Morgan Stanley, Goldman Sachs Fall Below Tangible Book Value

9 January 2016, 23:29
DOOM: Morgan Stanley, Goldman Sachs Fall Below Tangible Book Value

"Morgan Stanley and Goldman Sachs Group Inc. are trading below their tangible book value for the first time in more than two years.

The two largest equity-trading banks, which report fourth-quarter earnings this month, dropped more than 3 percent Thursday to fall below tangible book value, a measure of what the companies would theoretically be worth if liquidated. Goldman Sachs fell 0.4 percent to close at $163.94 Friday in New York, while Morgan Stanley slid an additional 2.1 percent to $28.38.

Bank stocks have plunged amid a selloff that has erased $4 trillion from global equities this year as Chinese authorities set a higher yuan reference rate and intervened in its equities markets. The recent volatility threatens to halt the flow of mergers that boosted both firms’ investment-banking revenue in 2015 and further delay the increase in trading activity that executives have been awaiting for several years.

The price to tangible book value ratio is closely watched by bank investors and analysts. From Goldman Sachs’s initial public offering in 1999 to the 2008 financial crisis, neither firm’s ratio fell below 1, and both traded at more than twice tangible book in 2007.

The ratio is based on Bloomberg data using common shares outstanding to calculate tangible book value per share. Goldman Sachs, in its quarterly regulatory filing, calculates a tangible book value per share of $162.11, using a share count that includes some restricted stock units. By that measure, it is still trading above tangible book."

Source: Morgan Stanley, Goldman Sachs Fall Below Tangible Book Value - Bloomberg Business

DOOOOOMED!!!
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