UBS: Can It Get Any Worse?

In the movie Die Hard, the evil villain Hans Gruber says that after stealing $20m in bonds from a Japanese bank on Christmas Eve, he planned to store them in a Swiss bank account and retire “sitting on a beach collecting 20%”. Nowadays, he might not be quite as smug with that strategy.

After four consecutive quarters of losses and writedowns, the question outstanding is “Can it get any worse for UBS (UBS) and thus its share price?”