If You Believe Their Numbers, These Big Banks Are a Bargain
How much faith do investors put in their banking institutions these days? Bloomberg Businessweek points out that Bank of America (BAC), Citigroup (C), Goldman Sachs (GS) and Morgan Stanley (MS) are all trading below their theoretical liquidation levels.
But book values can be overstated considering that losses and goodwill tend to lurk on bank balance sheets. That prompts us to compare the banks' market caps to their tangible book values, which takes that into account. How do those compare?
Filed under: Company News