An investment blog written by Chad Brand, President of Peridot Capital Management

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Investment Banks Nothing More Than Black Boxes

Posted on June 17, 2008

Bear Stearns is gone. Lehman Brothers (LEH) is fighting to stay afloat as an independent company. Merrill Lynch (MER) is right up there with the investment banking operations of Citigroup (C) as the domestic firms with the most bad mortgage exposure. Goldman Sachs (GS) is seen as the cream of the crop, but they surely are being dragged down with everyone else too even though they reported pretty good numbers this morning.Although the investment banks are down a ton, I have not been taking the contrarian side of that trade and scooping up any shares. And I do not plan to do so either. There are...

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