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Old 10-06-2008, 07:39 PM   #341
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No, we were talking about HBAN. They bought out Skye Financial which dumped a whole lot of bad loans on them.
same game....differeny names
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Old 10-07-2008, 10:06 AM   #342
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same game....differeny names

Not in the least.
Wachovia...... -$3.48 earnings per share
Huntington........+.33 earnings per share
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Old 10-10-2008, 08:00 AM   #343
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anyone want to bet that GS will hit around $40 a share before this is all over?
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Old 10-10-2008, 11:07 AM   #344
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anyone want to bet that GS will hit around $40 a share before this is all over?
Did you mean by the end of the day?
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Old 10-10-2008, 11:25 AM   #345
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hope not
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Old 10-10-2008, 11:45 AM   #346
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I guess if there's one company that I don't mind seeing correct, it would be GS. Freakin' snobs!
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Global Competitiveness Report 2008-2009
Old 10-10-2008, 07:36 PM   #347
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Global Competitiveness Report 2008-2009

Canada rated world's soundest bank system: survey | Reuters
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Old 10-10-2008, 07:43 PM   #348
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the whole nationalization of the banks reminds me of an old 80's TV mini-series

Amerika (TV miniseries - Wikipedia, the free encyclopedia)
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Old 10-16-2008, 09:43 AM   #349
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Citi and ML reported this morning, the writedowns continue
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Old 10-16-2008, 02:51 PM   #350
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On the positive side both WFC and BBT had strong quarters. BB&T earned .65 easily covering there dividend of .46, despite increased loan losses.

Wells Fargo earned .49 despite almost 1.2 billion in loan charge offs and reserves, also covering the .34 dividend. The share prices of both companies have held up currently trading at 33-34 vs their lows of $18 BBT and $20 WFC. It looks like I and many others correctly called the bottom for the banking stocks back in July.

Under normal circumstances I'd said that both WFC and BBT would be good stocks for dividend investor, but considering so many other good companies stocks have been pounded, coupled with the partially nationalization of the banking industry, I'm not so sure.
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Old 10-16-2008, 06:52 PM   #351
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Under normal circumstances I'd said that both WFC and BBT would be good stocks for dividend investor, but considering so many other good companies stocks have been pounded, coupled with the partially nationalization of the banking industry, I'm not so sure.
I just put in a sell order for some of my WFC so I can fund some purchases. It's been great to my portfolio, and I still own a nice chunk of it, but with everything that's going on I thought it was a good time to take some profits off the table and look around at some new opportunities. I'll let the remainder ride a while longer while I'm trying to figure out what's likely to happen.
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Old 11-21-2008, 12:08 PM   #352
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Patience, grasshopper. Wait for the Fed cuts to continue and work their magic.

OK fellow bank stock holders.....let's talk!

Citi below $5 a share; BAC fast approaching $10/share; BCS under $8....

As some of you may remember, I am DEEP into BAC and have taken the full ride from $55 to present levels....and it is (or WAS) the biggest part of my portfolio....with my returning to some sort of w*rk almost assured now, I am now trying to focus on the future of my financial investments.....HELP!

I know that I shoulda, woulda, coulda....but I have to get past that and see what I can salvage from what's left....

It would seem that my 1st focus should be on harvesting tax losses - some or maybe even a lifetime's worth.....what say you?

Assuming that my loss is about $40+ per share, would you sell a few shares or maybe all?

Brew once said something to the effect that if BAC fails, we will have a lot more serious issues to deal with.....well, I can't say that my current confidence level is good...'cause it looks like a distinct possibility.....I would have to say that if C fails that BAC couldn't be far behind....

D*mn, I sure wish that I had taken up drinkin' at some point in my life....'cause this sh*t is drivin' me !!!
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Old 11-21-2008, 12:11 PM   #353
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interesting tidbit is that the VIX is lower now than at last month's intraday low. very similar to 2002 when the low in October was made on a lower VIX reading than in July
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Old 11-21-2008, 12:12 PM   #354
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Va - double down your BAC bet with a huge chunk of C @ $4.


Come on, man, no guts, no glory....
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Old 11-21-2008, 12:17 PM   #355
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interesting tidbit is that the VIX is lower now than at last month's intraday low. very similar to 2002 when the low in October was made on a lower VIX reading than in July
For a novice like myself, what does that mean?
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Old 11-21-2008, 12:20 PM   #356
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Va - double down your BAC bet with a huge chunk of C @ $4.Come on, man, no guts, no glory....
With what.....already all in with BAC.....bought it on the way down to its current level with most of my 2-3 years of "$$ to live off of" ! Does the term "flat broke" mean anything to ya?

But let's see.....I could sell my BAC and have twice as many C shares when they go belly up....is that what you mean ??
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Old 11-21-2008, 12:22 PM   #357
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Dude, haven't you ever heard of a margin loan?

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Old 11-21-2008, 12:25 PM   #358
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Dude, haven't you ever heard of a margin loan?
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Old 11-21-2008, 12:32 PM   #359
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Tough situation and tough questions.

I was/am very heavy in USB. Sold half at $36 which was good. Used it to buy GE and Pfizer which wasn't so good.

So I'm going through the shouldas as well..shoulda sold all of USB and held cash.

Why are the financials being driven down so hard?? Are we back to the shorters trying to drive companies into the dust or ?
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Old 11-21-2008, 12:32 PM   #360
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VA - By the way, I appreciate your sense of humor about this. I guess in these markets that's about all we have left....
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