 Quote:
Originally Posted by Gumby
I just bought Barclays (BCS). Now that they have lost the battle for ABN Amro, I expect that they will recover some of the swoon in share price that occurred after they started their campaign for ABN. Right now, the dividend exceeds 5.5% and they have share buyback authorization exceeding $3 billion by the end of the year. A major global player with earnings largely outside the US, so it is a hedge on the dollar. I think the suspicions around their potential trading losses is overblown. Finally, during the last several months, this stock has been heavily shorted. If the trend reverses strongly with this news and the shorts need to cover, there could be a nice pop ahead.
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I bought it on 9/10 at 47.51/sh. I wasn't expecting a quick rebound like we have seen, but I will take it. S & P still has it rated a strong buy with a $67 target. Nice dividend too. 
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Full time wuss............
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