Mark Grammer
Northern Trust
NTRS-Q
BUY
Dec 29, 2008
Current market conditions provide opportunities for the high-quality US banks. Top 3 quality US banks would be JP Morgan (JPM-N), Wells Fargo (WFC-N) and Northern Trust (NTRS-Q). On a 3-year view, these stocks will make you a fair amount of money.
Completely focused on private investors through their asset management and advisory services and their custody business, which has massive growth opportunity in front of them. Very good ROE. Very little credit risks.
Feels financials have hit bottom and this is one that has sidestepped credit issues. They concentrate on the ultra wealthy and do quite a bit with institutions corporate pensions. Well run company.
Very well run. Has exposure to interest rates and if they start to pick up, their interest margins will expand and the stock will do extremely well. If they get acquired, it will create a nice premium.
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