The one about banking's seven sins?
Did anyone buy into that?
The next person to get a back ache will be Mike Mayo, who came up with one of the most simplistic and trite viewpoints on banks that I had ever seen. He called it the Seven Deadly Sins of Banking, and it got a lot of press on CNBC this morning....I knew what I'm buying, but maybe this time, Mr. Mayo doesn't know what he is selling! This call is Mayo's deadly sin!So I've bought the Seven Deadly Sins that are in the lithograph version, but I'm not buying Mayo's Calyon Credit Agricole Seven Deadly Sins of Banking report, even though they are headquartered in Paris.I already have the Seven Deadly Sins from France! And they, like the bank stocks, aren't going down in value, but up!
That story should be reread!