InsideWaMu

I’ll blog a more detailed writeup over the weekend after going through the WaMu earnings release, but here are my quick thoughts:

$5.9B loan loss provision this quarter?  Wow.  Even scarier, the residential provisioning model more or less assumed 20% frequency and 50% loss severity on outstanding residential pool.  This means - unless I’m missing something - 1 in 5 mortgages still in the [...]

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One of the joys of being a WaMu shareholder, employee or interested party is listening to the hourlong earnings call each quarter.  If you are any of the above you really should call in Tuesday July 22nd at 2:00PM Pacific.  Webcasts are available at http://www.wamu.com/ir.
These usually proceed with precision of a Swiss timepiece.

Introduction by Alan Magleby [...]

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As WM gears up for the July 22nd earnings call, compiling earnings and writing out the press releases what song do you think Kerry, Tom and TPG are jamming to this weekend on floors 31-33 (while NOT drinking the recently discontinued 31-33 floor executive water)?  Here’s my vote:

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