The Company is a financial services provider, which serves its clients through three divisions, Investment Banking, Private Banking and Asset Management.
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CS is one of the ten most heavily leveraged bank of the world with the most illiquid balance sheet. For instance it has about $4 billion of proprietary capital tied in its illiquid private equity funds, nearly 15% of its balance sheet equity. It is actually craving for a cash recapitalisation, as it is losing its cheap financing with its deposits decreasing every quarter from CHF 460 billion on 2007-06 to CHF 375 billion on 2008-06, so nearly $70 billion in one year. This Friday the Financial Times confirmed that CS tries to sell all or part of its asset management division. 2008 eanings estimates just turned negative, as per Thomson data. 2009 earnings estimates are slashed recently. CS may also go bankrupt.
It won’t go bust. Reason being they have the capital to expand. They can’t time the market no more that you or I or Cramer can. What they can do is earn a small conservative interest on the capital in pay little to no taxes on it. they ride this recession out and when people are dumping there money back into the market ( also other big corporations) say around Dow 12300 they come out with a share price of round 70-78$ ^^
Cheers