In order to to build some market perspective 6 months into 2008, I decided to do a 'Performance' Check on some of the Financial + Homebuilder stocks I follow.BEHOLD the HORRID Year To Date (1/01/08 - 6/16/08) and year over year returns (...the graph to the left is courtesy of Societe Generale equity research + shows the marketcapitalization of the Financial sector as a proportion to the marketcap of the entire S+P 500 index...currently financials make up about 17% of the entire S+P 500):
Company (Ticker - Mcap): Year To Date Change, 1 Year Change
* Large U.S. Banks (Ticker...Marketcap): Returns
Bank of America (BAC - $135B): -27%, -39%
Bank of New York (BK - $48B): -14%, -6%
BB&T Corp. (BBT - $15B): -11%, -35%
Citigroup (C - $109B): -29%, -61%
Deutsche Bank AG (DB - $48B): -26%, -36%
JPMorgan (JPM - $137B): -9%, -21%
Northern Trust (NTRS - $16B): -7%, +9%
PNC Financial (PNC - $21B): -8%, -19%
Soverign Bancorp (SOV - $5B): -19%, -59%
Sun Trust Bank (STI - $16B): -29%, -51%
Wachovia (WB - $39B): -52%, -67%
Washington Mutual (WM - $7B): -50%, -84%
Wells Fargo (WFC - $87B): -13%, -27%
U.S. Bancorp (USB - $55B): -1%, -8%
* Brokers + Asset Managers:
AIG (AIG - $85B): -42%, -53%
Barclay's (BCS - $43B): -36%, -56%
Bear Sterns (formerly BSC): DEAD
Credit Suisse (CS - $49B): -20%, -35%
Goldman Sachs (GS - $72B): -15%, -20%
Jefferies Group (JEF - $3B): -16%, -31%
Legg Mason (LM - $8B): -26%, -46%
Lehman Brothers (LEH - $15B): -58%, -66%
Merrill Lynch (MER - $38B): -27%, -57%
Morgan Stanley (MS - $47B): -20%, -52%
Piper Jaffray (PJC - $0.75B): -12%, -34%
Raymond James (RJF - $4B): -5%, -5%
State Street (STT - $29B): -15%, -1%
UBS AG (UBS - $49B), -47%, -61%
* Stock Exchanges:
CME Group (CME - $23B): -39%, -24%
Intercontinental Exchange (ICE - $9B): -36%, -22%
NYSE Euronext (NYX - $16B): -32%, -25%
Nasdaq OMX Group (NDAQ - $7B): -33%, +4%
Nymex Holdings (NMX - $9B): -33%, -37%
* Other U.S. Financials:
Ambac Financial (ABK...$0.7B): -91%, -97%
Berkshire Hathaway (BRKA...$195B): -11%, +15%
Charles Schwab (SCHW...$26B): -11%, +5%
Countrywide Financial (CFC...$3B): -44%, -87%
Downey Financial (DSL...$0.125B): -84%, -93%
E Trade Financial (ETFC...$2B): +7%, -84%
Fannie Mae (FNM...$25B): -36%, -63%
Freddie Mac (FRE...$16B): -30%, -63%
MBIA Inc. (MBI...$2B): -67%, -91%
Metlife (MET...$42B): -4%, -12%
Moody's Corp. (MCO...$10B): +11%, -42%
PMI Group (PMI...$0.4B): -66%, -91%
Sallie Mae (SLM...$12B): +23%, -57%
TD Ameritrade (AMTD...$11B): -6%, -9%
Thomson Reuters (TRI...$30B): -12%, -15%
* International Banks:
Australia and New Zealand Banking (ANZBY...$34B): -23%, -25%
Banco Bilbao/Argentina (BBV...$77B): -15%, -17%
Banco Bradesco/Brazil (BBD...$66B): +3%, +28%
Banco de Chile (BCH...$6B): +2%, -1%
Banco Itau/Brazil (ITU...$66B): +7%, +21%
Bancolumbia/Columbia (CIB...$7B): +4%, +6%
Banco Santander/Spain (STD...$120B): -11%, +2%
Bank of Ireland (IRE...$11B): -30%, -51%
Creditcorp/Peru (BAP...$8B): +13%, +45%
HDFC Bank/India (HDB...$12B): -34%, +3%
HSBC Holdings/UK (HBC...$195B): -3%, -12%
ICICI Bank/India (IBN...$21B): -40%, -21%
Kookmin Bank/South Korea (KB...$20B): -18%, -36%
Lloyd's TSB Group/UK (LYG...$40B): -27%, -40%
Mitsubishi UFJ/Japan (MTU...$105B): +8%, -14%
Mizuho Financial/Japan (MFG...$61B): +9%, -29%
National Australia Bank (NABZY...$209B): -21%, -24%
National Bank of Greece (NBG...$24B): -25%, -8%
Royal Bank of Canada (RY...$64B): -5%, -9%
Royal Bank of Scotland (RBS...$77B): -47%, N/A
Shinhan Financial/South Korea (SHG...$17B): -19%, -23%
Toronto-Dominion Bank/Canada (TD...$54B): -4%, -2%
Unibanco/Brazil (UBB...$38B): -2%, +21%
Westpac Banking Corp./Australia (WBK...$39B): -16%, -5%
* U.S. Homebuilders:
Beazer Homes (BZH...$0.2B): -27%, -83%
Centex (CTX...$2B): -40%, -65%
DR Horton (DHI...$4B): -8%, -43%
Hovnanian (HOV...$0.5B) -7%, -67%
KBH Home (KBH...$2B): -12%, -57%
Lennar Corp (LEN...$3B): -11%, -62%
MDC Holdings (MDC...$2B): +13%, -20%
NVR Inc. (NVR...$3B): +17%, N/A
Pulte Homes (PHM...$3B): +1%, -57%
Ryland Group (RYL...$1B): -10%, -40%
Standard Pacific (SPF...$0.2B): -4%, -83%
Toll Brothers (TOL...$3B): +2%, -25%
--------------------------------------------------------------------------------
*According to the New York Times, "Between early 2004 and mid-2007, a period of unprecedented wealth on Wall Street, seven of the nation’s largest financial companies earned a combined $254 billion in profits. But since last July, those same banks — Bank of America, Citigroup, JPMorgan Chase, Lehman Brothers, Merrill Lynch, Goldman Sachs and Morgan Stanley — have written down the value of the assets they hold by $107.2 billion, gutting their earnings and share prices. Worldwide, the reckoning totals $380 Billion, much of which reflects a plunge in the value of tricky mortgage investments."
Data Courtesy: Bloomberg, New York Times, Barry Ritholtz
Full Disclosure: I own shares of GS and IBN.
Posts
