Mike Mayo and the Busted BanksBen Levisohn
The banking sector has been banging its head against its recent highs and those with a bearish disposition need to look no further than Mike Mayo’s latest report, “The Seven Deadly Sins of Banking,” for a confirmation of their negative views. Mayo weighs in with his first report since leaving Deutsche Bank for CLSA (allegedly because he was too bearish) and he doesn’t disappoint – or pull his punches. His report documents how we got into this mess. But more importantly, since the market is a forward looking beast, Mayo and his team explain why banking – and bank stocks – won’t be returning to their lofty heights any time soon. The reasons include:
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