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John Maxfield

TMFMaxfield

I write about banks, trying my best to balance the good and the bad.

Recent Articles by John Maxfield

Nov 26, 2014 by John Maxfield

For Bank of America to Succeed, It Must Clean Up its Culture

There are two things we know with a high degree of certainty. First, having a good corporate culture is critical to producing outstanding shareholder returns. Second, Bank of America doesn't have a good corporate culture.

Nov 25, 2014 by John Maxfield

Dear Brian Moynihan: You’ve Done a Good Job so Far, But Now Comes the Hard Part

With the end of Bank of America's legal fiasco right around the corner, investors should not delude themselves into thinking that BofA's biggest challenge is behind it.

Nov 25, 2014 by John Maxfield

7 Insightful Lessons From One of America’s Best Bankers

Every year, M&T Bank's Robert Wilmers writes an especially insightful letter to shareholders. Here are seven lessons from the past 10 years.

Nov 21, 2014 by John Maxfield

A Simple Truth About Banks: Over the Long Run, Most Don't Make Money

Bankers are susceptible to the same behavioral biases that cause individual investors to underperform the market.

Nov 21, 2014 by John Maxfield

Here’s What Happens When Bankers Are Tested for Honesty (You Won’t Be Disappointed)

A recent study by Swiss economists finds that the business culture in the banking industry undermines a person’s inclination to be honest.

Nov 20, 2014 by John Maxfield

1 Reason to Invest in Wells Fargo: It Has the Shortest Rap Sheet of Any Big Bank

There are a lot of reasons to love Wells Fargo, but one of them is certainly the fact that it gets in much less trouble than its peers on Wall Street.

Nov 17, 2014 by John Maxfield

The Hidden Penalty That's Weighing on Bank Stocks

Postcrisis regulations that require banks to hold more capital also have an important impact on taxes.

Nov 17, 2014 by John Maxfield

Let’s Be Honest: There’s Nothing Special about GoPro's Digital Cameras

If you're an investor in GoPro, you should care much less about digital cameras than you probably think.

Nov 14, 2014 by John Maxfield

Is Corruption on Wall Street Endemic or Does It Just Seem Like It Is?

In the latest chapter of Wall Street's post-crisis woes, six major banks agreed to pay $4.3 billion to settle allegations that traders within their investment banking divisions conspired to manipulate foreign exchange rates.

Nov 12, 2014 by John Maxfield

Bank of America Is Spread Too Thin, Outmatched By Competitors, and Should Be Broken Up

Bank of America's shotgun wedding to Merrill Lynch was once heralded as a dream come true, but there's reason to think that it has since turned into a nightmare.

Nov 11, 2014 by John Maxfield

Two Banks With Two Very Different Challenges

In this episode of Where the Money Is, we discuss why Bank of America might want to divorce itself from Merrill Lynch and the flaw in New York Community Bancorp's otherwise immaculate business model.

Nov 11, 2014 by John Maxfield

Will Square Do to Banking What It's Doing to Payments?

The payments processing company founded by Jack Dorsey has set its sights on a much bigger prize.

Nov 10, 2014 by John Maxfield

The Flaw in New York Community Bancorp's Otherwise Immaculate Business Model

New York Community Bancorp has been one of the best-performing bank stocks during the last two decades. Yet, it currently has one of the worst return-on-asset ratios among regional banks. Here's why investors in the New York-based bank shouldn't fret.

Nov 10, 2014 by John Maxfield

6 Billion Reasons Wells Fargo Loved Quantitative Easing

Policymakers can argue all day long about the benefits and detriments of quantitative easing, but you'll never hear a critical peep out of Wells Fargo.

Nov 7, 2014 by John Maxfield

On Second Thought, Bank of America Was Just Kidding About That Third-Quarter Profit

Bank of America announced on Thursday that it had to reduce its third-quarter earnings by $400 million, wiping out a previously reported profit.

Nov 5, 2014 by John Maxfield

Why Amazon Wants to Deliver Your Groceries

By going after groceries, Amazon has set its sights on the second largest category of U.S. retail sales.

Nov 5, 2014 by John Maxfield

Was Quantitative Easing a Waste of $3.6 Trillion?

In the final analysis, quantitative easing seems to have cost the nation $3.6 trillion. Was the unusual monetary policy worth the price?

Nov 4, 2014 by John Maxfield

Amazon Is Quietly Building an Impenetrable Moat That Could Last for Generations

With little fanfare, Amazon.com is constructing massive warehouses in the outskirts of America's biggest cities that could serve as a durable competitive advantage for generations to come.

Nov 4, 2014 by John Maxfield

Did Quantitative Easing Work?

Now that the Federal Reserve has announced its decision to end quantitative easing, it's worth asking whether it worked.

Nov 3, 2014 by John Maxfield

Great Bank Stocks Have This 1 Thing in Common

For investors interested in identifying bank stocks with the best chance of outperforming the industry, then the first place to look (for many reasons) is the efficiency ratio.

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