Bronte Capital: A series of quarterly numbers
Other than for banks with substantial trading income (or losses) the fourth quarter has been an absolute record at just about every bank I am looking at. Sure if your losses are huge then your net interest income could be going backwards (as per Corus bank). But that is the exception. If this trend continues (and I think it will) then my pre-tax, pre-provision estimate in the long note is dramatically low whereas Felix was sure it was high.