I'm based in the UK and mainly use IB for cost reasons - not sure how many brokers here are going to trade this, oh well. Really like the substack btw - a nice break from only looking at large caps at work. Hingham is another really well run bank - although they've had a strong run this year - worth keeping an eye on.
Thanks for digging this up, David! This is a good case study to improve my banking knowledge and create a framework to compare other banks. I want to read up his letters.
This is quickly becoming my favourite Substack. Looking forward to diving into those letters. Thanks!
Kind words Matt! Thank you
How do you actually buy the stock? On IB it comes up as No Opening Trades: DTC Chilled or Ineligible.
I'm not sure what is the case for you tbh. Maybe Schwab has it? I bought it through my bank broker
I'm based in the UK and mainly use IB for cost reasons - not sure how many brokers here are going to trade this, oh well. Really like the substack btw - a nice break from only looking at large caps at work. Hingham is another really well run bank - although they've had a strong run this year - worth keeping an eye on.
Thanks Andrew.
Thanks for digging this up, David! This is a good case study to improve my banking knowledge and create a framework to compare other banks. I want to read up his letters.
Thanks! You'll definitely enjoy these
Great write-up David, enjoyed reading it.
Thank you!
OZK is another strong bank and PB ratio is below 1.2, so I am not sure if 1.6 is fair for valuation.
Banks are a bit difficult, at least for me, you never know what is going on underneath....
I'm not into banking, but I enjoyed reading your write up. Trinity is a very peculiar case indeed. Thank you.
I'm not either haha. Thank you Yuri! I'm glad you enjoyed it.
I was surprised too.
It's either that or it's far too illiquid for them to even consider it.