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11-21-2008, 12:32 PM
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#1
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Recycles dryer sheets
Join Date: Mar 2007
Location: Fort Collins, CO
Posts: 138
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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 ?
__________________
"Being rich is having money; being wealthy is having time."
"It is only possible to live happily ever after on a day-to-day basis” Margaret Bonnano
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11-21-2008, 12:32 PM
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#2
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Full time employment: Posting here.
Join Date: Oct 2007
Location: New York
Posts: 743
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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....
__________________
Money's just something you need in case you don't die tomorrow.
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11-21-2008, 12:43 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Aug 2006
Posts: 1,441
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What makes this whole situation with so many of the bank stocks so awful is the dividend cuts, which makes it that much harder to ride out this downturn. And to the extent that the TARP program inhibits (or prevents) dividend increases, it only makes matters worse. The government is even starting to make noises about not allowing banks that take TARP funds to pay dividends at all.
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11-22-2008, 11:41 AM
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#4
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Thinks s/he gets paid by the post
Join Date: Jul 2006
Posts: 2,398
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If you are looking for value in bank stocks, consider these three Canadian banks. The OECD recently ranked Canada's banking system the best managed, and these three banks are the best run. But stay away from CIBC, which had significant exposure to subprime loans.
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11-23-2008, 10:21 PM
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#5
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Dryer sheet aficionado
Join Date: Nov 2008
Posts: 41
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 Quote:
Originally Posted by Meadbh
If you are looking for value in bank stocks, consider these three Canadian banks. The OECD recently ranked Canada's banking system the best managed, and these three banks are the best run. But stay away from CIBC, which had significant exposure to subprime loans.
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I've also been looking at the Canadian Banks. I also wrote off CBIC but I am curious as to why BMO didn't make your list. Which Canadian banks will not cut their dividends?
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11-24-2008, 07:32 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Jul 2006
Posts: 2,398
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Quote:
Originally Posted by Hank
I've also been looking at the Canadian Banks. I also wrote off CBIC but I am curious as to why BMO didn't make your list. Which Canadian banks will not cut their dividends?
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BMO is OK too. As for cutting dividends, who knows? See this morning's Globe and Mail:
reportonbusiness.com: Dividends are safe, says TD's Clark
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11-24-2008, 02:42 PM
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#7
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Dryer sheet aficionado
Join Date: Nov 2008
Posts: 41
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Quote:
Originally Posted by Meadbh
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Thanks for the article....BMO is up 12% today. This article plus the overall rally gave it quite a boost.
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11-25-2008, 08:52 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Jul 2006
Posts: 2,398
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Quote:
Originally Posted by Hank
I've also been looking at the Canadian Banks. I also wrote off CBIC but I am curious as to why BMO didn't make your list. Which Canadian banks will not cut their dividends?
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You are right, BMO's Q4 profits announced today were up 24% and its common stock closed at C$34.95, up 83¢. But they will not forecast performance in future quarters (perhaps wisely).
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11-25-2008, 09:09 PM
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#9
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Dryer sheet aficionado
Join Date: Nov 2008
Posts: 41
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Quote:
Originally Posted by Meadbh
You are right, BMO's Q4 profits announced today were up 24% and its common stock closed at C$34.95, up 83¢. But they will not forecast performance in future quarters (perhaps wisely).
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The dividend is what keeps me interested in this company but I am still leary that the Canadian banks will come out of this period of time without getting hurt more.
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11-30-2008, 12:15 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Jul 2006
Posts: 2,398
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Quote:
Originally Posted by Hank
I've also been looking at the Canadian Banks. I also wrote off CBIC but I am curious as to why BMO didn't make your list. Which Canadian banks will not cut their dividends?
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Here's some food for thought on BMO:
Bank Of Montreal – Is The Dividend Safe?
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11-22-2008, 03:49 PM
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#11
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 10,802
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Quote:
Originally Posted by Maurice
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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I was going to say, VA is one of the guys I want on my team when the Martians invade. Way to hang in there man!
Ha
__________________
Above all, humans are political animals.
Nota bene: I am either a moron or an idiot. So don't pay any attention to anything I say or you are one too. Please consult your financial advisor, astrologer or proctologist for whatever it may be that you are seeking.
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11-21-2008, 01:11 PM
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#12
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 1,543
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and just like 2002 the Put/Call ratio is lower now when the market is lower. logically the lower the market goes the higher the put/call ratio is supposed to go.
oct it peaked at 1.51 and it was 1.410 a few days ago and is now trending down
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11-22-2008, 03:59 AM
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#13
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 3,052
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Small investors putting money at the epicenter of the nuclear meltdown takes some B@LL$. Especially with certain banks that might not survive.
I learned my lesson investing in damaged companies that were implementing triage and trying to survive many years ago. I will leave that opportunity to the specialist who know more than me.
Good luck with it.
__________________
Planned FIRE Summer 2011
Disclaimer: I make no warranty or guarantee about the accuracy or completeness of this information. I am not a financial planner, my comments only represent my opinion.
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11-22-2008, 08:13 PM
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#14
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 1,543
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Quote:
Originally Posted by chinaco
Small investors putting money at the epicenter of the nuclear meltdown takes some B@LL$. Especially with certain banks that might not survive.
I learned my lesson investing in damaged companies that were implementing triage and trying to survive many years ago. I will leave that opportunity to the specialist who know more than me.
Good luck with it.
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you can buy an ETF
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11-24-2008, 07:38 AM
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#15
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 1,543
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looks like Citi dividends are going bye bye
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Monday morning quarterback
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12-07-2008, 08:06 PM
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#16
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Confused about dryer sheets
Join Date: Oct 2008
Posts: 4
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Funny to hear that as posted long ago and look what happened
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01-21-2009, 06:38 PM
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#17
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Recycles dryer sheets
Join Date: Feb 2005
Posts: 246
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What happened with this thread? I read most of it, hoping to get to the current info and it ended last month!?!
Asking because I'm considering buying WFC and BAC, but am wondering to what extent the nationalization talk is serious?
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01-21-2009, 06:48 PM
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#18
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 10,802
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I believe this thread went silent because it appears so difficult to have any idea what the probablilities, or even possibilities, are.
Ha
__________________
Above all, humans are political animals.
Nota bene: I am either a moron or an idiot. So don't pay any attention to anything I say or you are one too. Please consult your financial advisor, astrologer or proctologist for whatever it may be that you are seeking.
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01-21-2009, 07:08 PM
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#19
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Recycles dryer sheets
Join Date: Feb 2005
Posts: 246
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I had considered that, but blew it off because there are few silent members on this forum 
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01-21-2009, 07:39 PM
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#20
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 10,802
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True enough. But getting one's fingers smashed has a way of inculcating caution.
Here are two recent threads which touch on bank stocks:
Bac = wtf???
Adios & thanks for ALL!
ha
__________________
Above all, humans are political animals.
Nota bene: I am either a moron or an idiot. So don't pay any attention to anything I say or you are one too. Please consult your financial advisor, astrologer or proctologist for whatever it may be that you are seeking.
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