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At the outset I will acknowledge that my reason for starting this thread is self-serving. I make no pretense of understanding the banking business and its accounting. It is common knowledge that the large banks have significant exposure due to the economic deterioration in several parts of the world. After discussing this subject via PMs with another SI member for a while we realized that neither of us knew much about the business though we both felt that some of these stocks would be good shorts. He suggested I start a thread to discuss the subject and even offered an introductory statement:
"I am a doc and I was put up to this by some mouthy street lawyer and together, our knowledge of the banking business rolled up in a ball looks like a bb rolling down a four lane super highway."
So, help me out. What really is the banking industry's exposure? If it is so obvious, why can't all those smart people earning six and seven figures at the banks work their way out of it? Has the exposure already been factored into the stock price? Which bank stocks make the best shorts? What related financial stocks might we look at for "collateral damage" as various economies tank around the world?
Longs, shorts, fence sitters, anyone with information to impart are all invited to participate. Flamers-please take it somewhere else.
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