Quote:
Originally Posted by FinanceDude
To coin a phrase from Bevery Hills Cop I, when Axel Foley asks Sergeant Taggert: "Why are we always fighting"??
Running Man felt it important to "tell us his qualifications" not sure why. I will always stick up for brewer because although he and I are polar opposites politically, he is IMHO a darn good analyst. He reads balance sheets and prospectuses and red herrings for a living. Same with guys like saluki9, guys that actually do portfolio management on portfolios in the 9 digit range. I don't take their financial acumen lightly.
Running Man can take folks to task all he wants, but he needs to understand, as you do, that those of us who also posess some acumen are free to challenge and refute him as does others.
It has NOTHING to do with moderation. Moderators are people too...........  |
Ok I went back and reviewed the last few months of Running Man posts. I didn't seen any instances when he was attacking people, being nasty, or doing anything that would warrent be called down by a moderator. Other than one crack about investing when Brewer was high school I just don't see it. (Which remind me of Reagan vs Mondale I will not hold my opponents youth and inexperience against him.. well you had to be there.)
He has consistently disagreed with the opinion of Brewer and other that bank stocks are a bargain and we will recover once Mr. Market comes to his senses. He also been bashed a lot for his opinions.
I asked Running Man his qualifications (and CPA and many years of investment experience count for something.) This is NOT an academic question for me. I own one bank stock several risk but high yielding quasi banks and have written puts on USB, BAC, WFC, and BBT of which all but USB are likely to be exercised in Jan. Since the amount involved is well in the 6 digit range, I am interest in collecting as much information as I can.
The way I figure. The group of folks who think Bank stocks are a bargain is pretty impressive
It starts with Warren Buffett, includes most of the Morningstar analyst, the professional money managers like Brewer and FinanceDude. It also includes me although in my case I pretty much worried in mostly concerned with the dividends being paid in the intermediate term.
On the side of Banks are overalued is Mr. Market who pretty routinely drives the stocks down. I can't ask the guy who sold BAC at $42.11 today. Sir could you tell me why you sold BofA. Warren Buffett owns it, Morningstar say it is worth $70, and it pays a 5.7% dividend, what were you possibly thinking when you sold it? I don't know if he sold because he was tax harvesting, he is a sheep, his mutual fund is having redemption problems and needs to raise cash, he is window dress for the end of the quarter, or he has a lot of insight in the intrinsic value of the stock.
Running Man is sort of Mr Market to me. So when he says that we are just seeing the tip of the non-performing loan problem, and he'd be interested in BofA at $12 why this in interesting red flag to me that even the smart money can be wrong. So lets not discourage long time but infrequent posters ok?
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. It probably seems like a normal work conversation to Brewer 
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