If we see a recovery this year and it becomes a stronger one than we expected, that will adversely affect bank stocks like they did in 1994 and 1999.
More Quotes from Gerard Cassidy:
Buyers are also more eager to do deals, because earnings growth is likely to slow. You can do a 'smokescreen' deal by buying an asset manager, commercial lender or processor, making it tougher to determine a company's true organic growth.Gerard Cassidy
I wouldn't view this as any indication the company is putting itself up for sale. I think it's an indication of better corporate governance. What they are trying to show everyone is that there's not going to be any artificial hurdles to them being acquired.
Gerard Cassidy
Investors that were hoping for the sale of the company will be disappointed by this announcement. Investors who are in it for the long run will be pleased. I think this is a very strong choice, a very good choice for the company to bring in a Bob Kelly to run it.
Gerard Cassidy
The timing of the bank sale could have been better, but you can't blame management for the timing. Mellon did not, and could not, see that interest rates would fall to 45-year lows right after the sale of the bank.
Gerard Cassidy
Everything they did in this communication was as if they had something to hide. They flunked it big-time.
Gerard Cassidy
A number of acquirers in 2004 have digested transactions and may do more in 2006.
Gerard Cassidy
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