Gator Capital Management's Derek Pilecki shares his thoughts on Banks and Financials in 2024

Derek Pilecki, CFA, Managing Member and Portfolio Manager at Gator Capital Management, joins the podcast to have a general conversation about the Financial Sector: banks, crypto and more!
For more information about Gator Capital Management, please visit: gatorcapital.com/
Chapters:
[0:00] Introduction + Episode sponsor: Tegus
[1:49] What's most interesting to Derek in Financials sector today / $NYCB / Valley and Western Alliance
[12:28] Western Alliance
[19:43] Capital One and thoughts on Discover merger
[28:36] Overall regulatory environment with banks and financials
[30:51] Election and how that affects banks
[33:26] Robinhood
[41:47] Fannie's and Freddie's
[47:50] $NYCB cont'd.
[50:32] Thoughts on buybacks based on conversations with bank CEO's
[1:01:18] Why Derek thinks banks are below average businesses
Today's episode is sponsored by: Tegus
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[@AdamJMeadTheOraclesClassroom]

Great interview, gents. Thanks!

[@virgilx]

Thank you. Very informative.

[@GraigJaimmings]

Capital One's ROE has averaged 10% at best over 10+ years while Discover's has been over 20%. Discover's marketing is much better (and cheaper). They are stealing Discover at a low price. COF has had the same CEO for decades with subpar returns. Compare with DFS or AXP

[@GraigJaimmings]

How much marketing spend do you need to attract subprime credit card customers no one else wants? COF's marketing strategy makes no sense.

[@GraigJaimmings]

Everyone hyped on COF's "superior technology" vs DFS. And yet DFS demolishes COF in total shareholder returns over the long haul thanks to high ROE, better capital allocation.