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Denmark is on Verge of Icelandic Style Crash
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[quote:XXXX:MV8xNzIwNzgwXzdGODZENEEz] http://www.valuewalk.com/2011/12/luxor-capital-q3-shareholder-letter-short-danske-bank/#.TtxCHVbfWAo ...the breakdown of the situation outlines why shorting Danske Bank at this point is an absolute no brainer. For example, even if one assumes a fairy tale ending in Europe (which is almost impossible) Danske should still be toast given any reversion to the mean in the Danish/Copenhagen housing market, which is a near certainty in my mind. If Europe gets out of hand and the cost of wholesale funding goes up (or away altogether) then Danske is a zero even quicker. The letter notes that Denmark’s banking assets-to-GDP is 454%!!! ... [/quote]
link to www.valuewalk.com
...the breakdown of the situation outlines why shorting Danske Bank at this point is an absolute no brainer. For example, even if one assumes a fairy tale ending in Europe (which is almost impossible) Danske should still be toast given any reversion to the mean in the Danish/Copenhagen housing market, which is a near certainty in my mind. If Europe gets out of hand and the cost of wholesale funding goes up (or away altogether) then Danske is a zero even quicker. The letter notes that Denmark’s banking assets-to-GDP is 454%!!!
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