What We're Reading 10/20/2011

While this article ignores dividends, 'dead money' stocks returns can be improved by selling options. 

Pick your poison, financial stocks are cheap if you have a longer term view.  (link back to article written here discussing tangible book value)

GMCR presentation by David Einhorn (Short GMCR).  My main thesis was that GMCR was not worth half as much as SBUX.  At the time I went short, GMCR market cap was 55% of SBUX.

Pick your poison - Tangible Book Value - major banks have reported

All of the major banking franchises have reported. 

5 of the 6 trade under their Tangible Book Value (TBV), some by a significant margin like BAC at 49%.  While I can understand trading under TBV when TBV is declining.  In every case, TBV is increasing YoY and some significantly.  I believe based on the numbers C is probably the best risk/reward buy right now with the second lowest ratio while having the highest growth rate. 

Long BAC, C, JPM, MS, WFC.  I am looking to sell WFC and potentially buy GS in the next 72 hours.