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May 8, 2006
Switching out Golden West from Cara 100, Mon, May 8, 2006, 11:33 AM
After 43 years at Golden West Financial (NYSE: GDW), Herbert Sandler is retiring. The Company is being sold to Wachovia for about $25 billion. Time to take the profit and move UBS into the Cara 100.
Why not Wachovia Corp (NYSE: WB)? The answer is only partly due to the retirement of Herb Sandler.
UBS is growing revenue and income faster, has higher EBITDA margin, and higher ROE.
Moreover, UBS is not sitting atop the credit bubble, holding a gazillion dollars in U.S. housing real estate mortgages, like Wachovia.
Besides I love the UBS equity research and their global positioning in private banking and wealth management to a "discerning clientele".
ADD
GICS 40 UBS AG (UBS) (UBS) Financials
REMOVE
GICS 40 Golden West Financial (GDW) (GDW) Financials
Posted by Posted by Bill Cara on May 8, 2006 11:33:53 AM | Category: 40 Financials , Cara Global 100 Best Companies