Analysis of banks, payment networks, insurers, and diversified financial businesses.
A fundamentals-first analysis of Bank of America (BAC), covering net interest income, its deposit franchise, credit costs, capital strength, tangible book value, valuation scenarios, and the risks investors should monitor.
Citigroup’s returns and efficiency improved sharply in 2026, but the stock is no longer priced like a broken bank. We examine its deposit franchise, credit costs, capital, tangible book value, restructuring progress, and the conditions required for further upside.
A bank-specific analysis of JPMorgan Chase (JPM), covering normalized earnings, NII, credit costs, CET1 capital, ROTCE, tangible book value, valuation, and risks.
Berkshire Hathaway (BRK.B) analysis of insurance float, operating businesses, cash, capital allocation, valuation, the Gregory Abel transition, and risks.
Visa Inc. (NYSE: V) sits at the center of global electronic commerce. It does not primarily lend money to consumers. Instead, Visa operates the network that helps financial institutions, merchants, and cardholders authorize, clear, and settle payments. That distinction is the key to understanding both the quality of the business and the risks in the … Read more