International Bancshares Corp (IBOC)
The Company is a financial holding company. Its bank subsidiaries are in the business of gathering funds from various sources and investing these funds in order to earn a return.
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Did Citron let me down on this one? Say it ain't so!
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Financial stocks carry a P/E ratio of 22.4, and the so-called "recovery" has been especially strong in bank stocks. Therefore, I’m concentrating my shorting interest in the banking sector.
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Another Citron Research one. And big exposure to commercial real estate.
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Because Citron said so.
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Citron
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Commerical real estate construction in Texas, like most of America is in severe decline and appears likely to stay down even after the recession economy improves. This was IBOC's cash cow. IBOC has greater exposure to this market than any of its competitors, yet they denied the harsh reality of pending defaults and severely-limited new business in their earnings forecast. The share price doesn't fully reflect this predicament because investors seem to believe all banks will continue to be bailed out beyond TARP money and reason.
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Commercial real estate is the next thing to crash.
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Joining the Citron crowd. Especially like the links to the S&L scam.
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I like gambling when Citron Research is on my side...
See: http://www.citronresearch.com/index.php/2009/03/23/citron-examines-international-bancshares-nasdaqiboc/
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Citron vs. Bernanke/Geithner Citron!
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I feel dirty for using Citron, but oh well.
http://www.citronresearch.com/index.php/2009/03/23/citron-examines-international-bancshares-nasdaqiboc/
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Going with Citron here.
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Citron
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small bank waiting to be bought out

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