In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
I think BNY Mellon’s executives believe private investors, such as family offices, are moving more and more of their money into alternative assets in a changing world. In particular, I think many big investors want to pull out of the stock market to avoid inflation and increasing economic turbulence. Hence, BNY Mellon is examining new markets, such as digital assets.
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Hence, BNY Mellon (NYSE: BK) can generate enormous amounts of cash. For example, Mellon reported a quarterly ending cash flow of $9.37 billion on 31 March 2021. The quarterly operating cash flow fell from $2.828 billion on 30 June 2021.
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To explain, Mr. Market priced BNY Mellon (BK) reasonably at $55.22 on 31 August 2021. Yet, The Bank of New York Mellon (BK) offers enormous value. For example, Mellon had $198.061 billion in cash and short-term investments on 30 June 2021. Additionally, BNY had $466.963 billion in Total Assets on 30 June 2021.
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I think Buffett buys BNY Mellon because it offers enormous amounts of cash and value for a cheap price.
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With or without the FinCEN scandal, Mellon can generate enormous amounts of cash.
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