In short: Cited as evidence, not a stance — named with Wells Fargo and Huntington as banks flagging rising deposit costs.
20:44You had a couple banks already, Wells Fargo, Fifth Third, couple others, Huntington, all talking about the fact that their deposit rates are going up after six quarters of falling interest expense. That's a remarkable turn. We're going to see more of that. So over time, I think that investors are going to have to try and sort all of this out and figure out what they do with their money, how they allocate new cash that's coming in.
In short: Split. Belsky sold it — but on portfolio construction, not on the company: "we're up 40% on the position… we want to tighten. We're already 32% financials in our value portfolio, Joe, so I want to get a little bit bigger in certain names. So we sold our Fifth Third, took a victory lap and added to a couple of others." Terranova holds and disagrees on the name: "good trade, but I think you stay with Fifth Third — that's what we're doing. You're going to see the integration of Comerica in the second half of the year. I think that's going to be beneficial. Stock looks great."
A clean disagreement between two members. Brian Belsky sold it — but explicitly not because anything is wrong: he was up 40% on the position and his value portfolio was already 32% financials, so he "took a victory lap" and concentrated the money into fewer names. That's portfolio construction, not a view.
Joe Terranova stays long and gives a reason to: "you're going to see the integration of Comerica in the second half of the year. I think that's going to be beneficial. Stock looks great." Bank mergers typically deliver cost savings as duplicate branches and systems are removed, so an integration completing is a visible earnings catalyst. One out, one in — which nets to neutral.
In short: Terranova: at an all-time high as lending shifts back to regional banks from private credit (whose standards are tightening on 2026 stress headlines).
In short: Bill — pro pick, owned (1% since Nov 2023). Bought after the SVB/First Republic aftershock, screening for strong-balance-sheet, "boring" regionals. Now buying Comerica — "a really good price" (activist HoldCo screamed it was too cheap for Comerica holders); the ~15-person exec team and duplicate tech stack are instant synergy. Regionals starting to outperform.
Fifth Third is a "boring" regional bank Smead bought after the 2023 regional-bank scare, screening for a strong balance sheet and low drama. Its acquisition of Comerica is the thesis in action: it's paying what Smead considers a good price (an activist even complained Comerica holders were being underpaid), and a bank takeover instantly removes a duplicate ~15-person executive team and overlapping technology — pure cost savings. As rates ease, these steady regionals are starting to outperform.
52:48com/inthemoney for more information. We have one um from you, Bill. you've brought uh Fifth Third Bank. So, we've talked we've talked a lot um you know about banks, how you bought the the the financials in the crisis. Something interesting is happening with these regional banks are starting to outperform. — Yeah.
Nothing matches this filter.
Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.