Investments, as well great to have you all here get to you in a second but i want to start with you, lee, if i could. Why are you speaking out its a good question. I dont have any dog in this fight. I retired from the board five years ago. I made a mistake i gave all my stock to charity i should have given cash, because the stock has almost tripled in the five years that im off the board. But i feel and i have, like i said, in dog in the fight. And i know and respect bill ackman so its difficult for me but notwithstanding, i consider his behavior to be, in this instance, somewhere between foolish, inappropriate, and irresponsible. And i feel its my job to speak out and speak my view. What was your reaction, though, when you sort of first found out that he was i was somewhat incredulous. Let me explain, basically. Ben graham wrote a book, i think in the mid50s called the Intelligent Investor and he pottsized in that book that an an analyst evaluates management twice in the decisionmakin
Taken a defeatist approach to his implosion, he has done what every lazy loser does in the aftermath of defeat. Hes blaming someone else. We assumed seething republicans had a shiny, happy plan they could snap into plan on inauguration day. But it should be long enough to turn a lump of crap like obamacare into a friendly plan that doesnt affect the economy. Apparently the legislative process moves slower president ial ice. He says the president has excessive expectations. His experience and intellect too low to understand and shepherd quality legislation. They had no problem catering to the voters excessive expectations. There was a sense of urgency to get the party back on track because both parties and leadership failed us. The president tweeted out, can you believe Mitch Mcconnell who screamed repeal and replace for seven years couldnt get it done . Yes, i can believe a power hungry politician lied. Now its interesting to see how voters reacted to mitchells failure. I have a feelin
Taken a defeatist approach to his implosion, he has done what every lazy loser does in the aftermath of defeat. Hes blaming someone else. We assumed seething republicans had a shiny, happy plan they could snap into plan on inauguration day. But it should be long enough to turn a lump of crap like obamacare into a friendly plan that doesnt affect the economy. Apparently the legislative process moves slower president ial ice. He says the president has excessive expectations. His experience and intellect too low to understand and shepherd quality legislation. They had no problem catering to the voters excessive expectations. There was a sense of urgency to get the party back on track because both parties and leadership failed us. The president tweeted out, can you believe Mitch Mcconnell who screamed repeal and replace for seven years couldnt get it done . Yes, i can believe a power hungry politician lied. Now its interesting to see how voters reacted to mitchells failure. I have a feelin
In dover, delaware, floating toward the coast at this point. We have a coating of snow not only on the grassy surfaces, but there could slick spots on the roads, as well. There you see the satellite image be cloud cover in the process of getting out of here, well see no worst than mostly sunny skies throughout the day. 34 degrees in philadelphia. 28 in millville. Notice how its colder to the north and west, and theres cold air to the west of us thats in the process of being drawn in. We think the numbers will go down quickly this morning. In terms of the wind. The windchill feeling like 24. 24 in wilmington. Teens in the northern and western suburbs and these numbers will have a tendency to drop over the next 3 to 4 hours. The temperature drop its a weired upside down down day, by 7 00 a. M. 25. Noon, 23. 3 00 p. M. , 21, 5 00 p. M. , 7 00 p. M. , sitting on or about 20, the windchills will make it feel like the upper Single Digits at times through the afternoon on act of a strong biti
Shrink the feds Balance Sheet. David . David were goined by mr. Campbell who covers banks for bloomberg and alice williams. She was a banker for Morgan Stanley and u. B. S. Lets start with the numbers because they broke 15 minutes ago now. Theyre basically up across the board according to estimates and last year. Mr. Campbell thats right. Really what this is about is the expense story. It looks like thats our initial read, noninterest expenses are lower than analysts had expected so bank of america did better on that. Credit cost provisions are ower than analysts expected. Thats a good story. People may have questions on Revenue Growth. Bank of america came up short on Net Interest Income with Interest Rates rising a bit during the quarter. Theres interest there. Bond trade chg was going to be there were a lot of good expectations for bond trading this quarter. Bank of america came in short on that. David focus on the trading because it came in low. As you point out the Fourth Quarter