The 10 Year K-Gra on Earning Assets

In general, I would not want to invest in a bank in which its growth rate is higher than its return on equity. So, we could look at First Republic, for instance, which is a bank that got assistance in some ways, got from other banks, or the government in some way. And what was their 10 year return on equity? 10 percent. Return on assets was a little bit under one. The median was 11.8, but a bad year was 3.45. You either have to increase your leverage a lot each year, or you have to issue shares, common stock, preferred stock, or borrow in some way and that's not good.