Judging by Goldman Sachs, America is a superb investment. However, Goldman Sachs’ success does not mean all Americans are doing well.Read more
The good news for investors is that Citi is very good at credit cards and customer service. The company will refund some money to 1.75 million customers that did not receive a planned interest rate reduction.Read more
Best of all, American Express is setting on a huge pile of cash. It reported $31.092 billion in cash and equivalents on 31 March 2018. That gives Amex the resources for a huge stock buyback or acquisition if it wants.Read more
Uber is now a classic value investment because it is a good company with a good product that has been having serious problems. There’s nothing wrong with Uber’s basic service or business model just its corporate culture.
Now that Khosrowshahi is cleaning that mess up, Uber stands to greatly improve. Buffett called himself “a great admirer of Dara” in a chat with CNBC. The sage of Omaha pointed out that some of the details in the Bloomberg story were wrong.
An interesting goal for Apple would be the creation of a “financial App store” where a wide variety of solutions like Marcus would be available to consumers. Future solutions might include checking accounts, loans, insurance, investments, annuities, remittances, wire transfers, and investment advice from Goldman Sachs.Read more
Goldman Sachs is experimenting with cryptocurrency trading. The bank was laying the groundwork for a cryptocurrency trading desk in December 2017, Bloomberg Markets revealed.
The desk is supposed to be up and running by the end of June, Bloomberg Markets speculated. Note: Bloomberg’s reporting is unreliable because the sources of the information were identified only as “people.” That means the article was based largely on hearsay.
SALT’s micro-lending might not be practical with today’s blockchain and cryptocurrency technology.
The greatest technological barrier to SALT’s business model is the scalability problem. Scalability is the maximum size of the blocks or architecture of the blockchain. The size of the blockchain determines the volume of transactions a platform can platform. That means it might not be possible for SALT to process enough loans to serve a mass market.Read more
Lending Club has gotten to the point where it is losing money by just staying in its business. What might be worse is that Lending Club is losing money from financing, it reported a cash from financing figure of $-461.20 on September 30, 2017. That indicates the company might be losing money from its lending operations, which are its only business.Read more
The potential challenges Wells Fargo faces are vast. The greatest of these is falling revenues, which probably reflects the growing implosion of the mortgage market.Read more
A nightmare for GS would be competitors trying to label it as Trump’s bank or racist. Goldman Sachs will need to address the Trump links and find some way to distance itself from the President. If it cannot those political ties might damage the business.Read more