But the horse, High Brow Cat, comes with a semen bank whose value may prove far greater than the purchase price.
In addition, stock prices of the big Chinese banks are relatively cheap: Bank of China trades at 1.4 times forward book value, and Agricultural Bank of China trades at 1.6 book value for fiscal year 2011, even though Bank of China is considered a better-run bank.
If the Bank targeted the cash value of GDP then the Bank would become responsible for the overall level of economic activity, not just the annual change in the consumer prices index.
His latest pronouncement concerned Justice Department laxity in persecuting bank fraud and how this must lower the value of bank equity because of public distrust.
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Citi has been faced with questions about shrinking the bank to increase value for shareholders.
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The state has hired Dresdner Kleinwort Wasserstein, the US investment bank, to value Yugansk.
China Construction Bank, the country's second largest bank by market value, will be the club's first deal with a Chinese financial institution.
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Santander, the euro zone's biggest bank by market value, made only a tiny profit in the last three months of 2011, as it booked charges related to its property holdings in Spain.
But if this observation were true, the bad bank would surge in value, and the old shareholders of the banks, who received the shares in the bad bank, would gain.
It is the aggregate value of bank deposits less overdrafts but not the monetary base.
And besides, foreign direct investment, bank lending and the value of the rupiah have all been abysmally low.
When they do, the value of longer-term debt instruments will fall, while the value of bank reserves will be unchanged.
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Internal austerity measures, including salary cuts and redundancies, proved unequal to the task of saving the bank, as the value of its assets continued to fall.
In 2008-09 already troubled U.S. banks were being battered by a recently reenacted, arcane accounting rule that was gratuitously destroying the book value of bank capital.
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His comments came as Russia's central bank stepped in to support the value of the rouble, which fell on Monday morning following the weekend resignation of bank chief Viktor Geraschenko.
Staff and lines of businesses will have to show they add value to a bank, not just increase its revenues.
So a bank does not create shareholder value by using shareholder funds to buy Greek bonds as these shareholders can buy these bonds directly.
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Zimmerman advises caution with investing in the banks and isn't interested in doing so himself because he can't determine the value of the bank.
With costs and capital under so much pressure, the incentive for executives to identify those who add genuine value to a bank has rocketed.
They owned utility stocks and savings bonds, kept their money in a community-owned bank, and bought cash value life insurance as a reliable savings vehicle.
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The Russian government recently hired investment bank Dresdner Kleinwort Wasserstein to value the natural gas operations of Yukos with an eye toward putting them up for auction.
Japan's biggest bank by assets and market value is keen to expand outside its domestic market, where loan demand is sluggish following two decades of economic stagnation.
It does not help that financial products are now so complex that it is very hard to make even an educated guess about the real value of a bank.
These may include the sale of brand new luxury homes in an upscale Nashville community for half their marked value or a bank giving away a foreclosed property in a poor Detroit neighborhood for back maintenance.
The more risk a bank takes, the greater the value of government guarantees and potential bailouts.
The investment bank embraced the maximisation of shareholder value when it went public in 1999.
Royal Bank of Scotland Group and Strategic Value Partners hold the remaining 25% in the Italian firm.
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The most problematical stock in this bunch is Bank of America, a longstanding Value Trust holding (2% of assets).
Shares in Mizuho, for example, the world's biggest bank by assets, halved in value, yet spreads on its bonds narrowed.
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As trouble continues to brew for Bank of America on the legal front, the bank saw an additional loss of value.
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