Berkeley CSUA MOTD:Entry 50564
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2026/05/17 [General] UID:1000 Activity:popular
5/17    

2008/7/14-23 [Finance/Banking] UID:50564 Activity:nil
7/14    If you have any bank deposits over 100k, I would say now is the time
        change that ASAP.
        http://online.wsj.com/article/SB121605305718551305.html
        \_ This sentiment is 100% correct.  I'm not worried about you fools--
           it's your parents and relatives.  Small business owners have it
           roughest because payroll can easily be > $100K.
        \_ Just put your money in a bank like Well's Fargo or BofA.
           \_ Wells is definitely a safe bet, but I'm not so sure about
              BofA.  Are you certain they aren't exposed?  Keep in mind
              that they bought Countrywide as well.
              \_ I think they are both "too big to fail" though WFC is
                 certainly the stronger institution. I don't have $100k
                 in cash anyway, so it is all moot.
           \_ What about Charles Schwab?  Is it safe?
        \_ I am buying KBE (seriously).
           \_ Reversion to mean strategy?  I'd say that's probably a good
              short term bet and an extremely lousy long term bet.
              \_ I actually think it is a good short and long term strategy,
                 though I will certainly take some profits on any move up.
                 \_ Why are you long on financials?  Just playing
                    devils advocate, or do you have a good macro
                    justification?  The problems with financials are not
                    purely sentiment, they have a solvency issue.
                    \_ No, I actually got 100% out of financials back in
                       Dec, when my stops got hit. I have been itching to
                       get back in and am starting to buy now. I think
                       this is a selling climax right now, brought about
                       by the IMB failure. I am sure some more banks will
                       fail, but not too many of them. I am looking at
                       a recently released (today) research report from
                       Citibank. They are saying that they are revising
                       BAC 2009 profit forcast down from $3.57 to $2.91.
                       This is a huge drop, to be sure, but implies a
                       forward P/E of 7. The banking sector will probably
                       recover in 2010, making it an even better deal then.
                       Buying on drops has worked our pretty well for me,
                       though I admit I am often early, like most
                       contrarians.
                       Check out the chart on these three the last time
                       we had a housing meltdown:
                       http://tinyurl.com/6pgkpm
                       \_ Update: the BAC I bought for 20 and change a week
                          ago is now up over 30.
2026/05/17 [General] UID:1000 Activity:popular
5/17    

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online.wsj.com/article/SB121605305718551305.html
Autos Fear of Failures Shakes Bank Stocks By Rob Curran Word Count: 456 | Companies Featured in This Article: Freddie Mac, Fannie Mae, National City, Washington Mutual, Zions Bancorp, Lehman Brothers Holdings NEW YORK -- US stocks fell Monday as the government's salvage of lender IndyMac Bank and plans to assist mortgage-finance giants Freddie Macand Fannie Maesparked worries about other lenders in need of a safety net. With formerly mighty institutions like IndyMac, Freddie and Fannie on their knees, investors fear another round of bank failures such as those seen in the savings and loan crisis about 20 years ago. Among regional banks with exposure to risky mortgage loans, National Cityfell 65 cents, or 15%, to 377.
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tinyurl.com/6pgkpm -> finance.yahoo.com/echarts?s=C#chart5:symbol=c;range=19900102,19920101;compare=bac+jpm;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
use the Basic Chart, or follow the directions below to enable Javascript and use the Interactive Chart. To enable Javascript in Internet Explorer 55 or higher... All data povided by Thomson Financial Network is based solely upon research information provided by third party analysts. has not reviewed, and in no way endorses the validity of such data. and ThomsonFN shall not be liable for any actions taken in reliance thereon. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. site, you agree not to redistribute the information found therein.