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AIB - Shorting the Celtic Housecat II

07/26/2010 05:49 PM by Dave Pinsen

Last month I mentioned Allied Irish Bank as a candidate to buy puts on ( http://shortscreen.com... ); today, on the relief rally from which AIB barely passed Friday, my limit order got filled on a few Feb 11 $2.50s at $0.60 each.

Among the European banks that passed the stress test, AIB had one of the weakest sets of results (http://www.screencast.... ). And bear in mind that these stress tests didn't test for the effects of a sovereign default ( http://www.bloomberg.c... ).

Rating:
5

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  • 08/04/2010 05:58 AM by Dave Pinsen

    From MarketWatch ( http://www.marketwatch... ):

    "FRANKFURT (MarketWatch) -- Shares of Allied Irish Banks PLC fell sharply on Wednesday, as the lender reported a deeper first-half net loss after substantial credit losses hurt its bottom line.

    The bank's net loss widened to 1.73 billion euros ($2.29 billion) from €786 billion in the same period a year ago. Net interest income declined to €1.24 billion from €1.69 billion."

    Rating:
    3
  • 08/10/2010 11:03 AM by Dave Pinsen

    The Irish Times, 8/10/10: AIB forced to take writedown of 85% on investment in Stuyvesant Town ( http://www.irishtimes.... ).

    Rating:
    4
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