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BUY Recommendation

posted Oct 15, 2009, 9:55 AM by Mohit Kumar   [ updated Oct 15, 2009, 9:56 AM ]

Market continues to rise but it is hard to get convinced yet, so we will stay a bit defensive. Today, we are adding yet another solid business to our portfolio, which met analyst expectations:
  • Headquarters in San Francisco, California
  • Financial holding company that engages in securities brokerage, banking and related financial services through its subsidiaries
  • Withered the financial crisis through its well diversified lines of business
  • Solid balance sheet!
  • Steadily growing its market share and adding customer accounts
  • Almost 50% of its revenue comes from asset management fees which consistently adds to its moat
  • Revenue from interest and dividends could remain stressed for longer times
  • Stock is well-positioned to rise further up once confidence is restored in the market!

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