CIBC Downgrades…CIBC

by Johnny Debacle

CIBC May Take $4.1 Billion Writedown, CIBC Analyst Says (headline has changed but the original was as we laid out). This just speaks to credibility of CIBC’s (NYSE: CM) equity research department!! ….or the fact that their equity research department just got laid off.

Recommendation: Short the employment status of anyone who downgrades their own firm’s stock; double short any company who puts their employees in a position where they would have to do so.

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  1. tima
    January 24th, 2008 | 3:40 pm

    I have a total return swap I could sell you on that position and will finance you to leverage it 10x, email me

  2. ppp
    January 26th, 2008 | 7:39 am

    cibc pre-approved me for a 10k goldcard (miniballer style), then ganked it 6 weeks later cuz i wouldn’t send them my tax returns for the past 3 years. they effectively hitran me for 100 in annual fees and now i have a decorative piece of plastic to remind me to ultrashort this wonderful financial institution.