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? for investor/stock junkies

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  1. lanimilbus lanimilbus is offline

    Denver, CO
    United States

    Posts: 216
    Joined: Oct 06

    Jul 11th, 2008 (7/11/2008 1:37pm)

    So WaMu, Citi and Wachovia are all near 52 week lows? Is it still too early to bottom feed them? WaMu has continuing mortgage exposure, but a pretty good retail branch network (and they may be releasing earnings on Monday). Citi has a huge consumer/business card protfolio that could still be risky. Wachovia I don't know that much about.

    I think it's still too early to get back in on FI's in general, but am curious to hear other viewpoints.
  2. businessclass businessclass is offline

    United States

    Posts: 911
    Joined: May 05

    Jul 11th, 2008 (7/11/2008 2:02pm) in reply to lanimilbus

    Leet8s will be here shortly to answer your ?
     
  3. Leet8s Leet8s is offline usausausausausa

    New York City, NY
    United States

    Posts: 8,036
    Joined: Aug 06

    Jul 11th, 2008 (7/11/2008 2:41pm) in reply to businessclass

    They ain't cheap enough yet. There are still massive problems with credit and housing. Have you heard any headlines saying that the banks are closer to being more secure? Or understanding our mortgage crisis? Or not feeling the pains of the credit crunch?

    The banks have no idea how to price their own assets and there is no market for their CDOs. Stay away. I think once housing bottoms, that is when you can buy financials. But until then, financials have gotten help from the fed when the fed cut rates to 2% (increasing the profitability of these banks) but the banks have still failed. Wait until the fed raises interest rates because of inflation, the banks will get killed.
     
  4. skisteve skisteve is offline 2008-2009 Thread Killer Champ

    French Polynesia

    Posts: 30,452
    Joined: Jul 06

    Jul 11th, 2008 (7/11/2008 4:42pm) in reply to Leet8s

    buy sirius obv.

    (no not really.)
  5. Leet8s Leet8s is offline usausausausausa

    New York City, NY
    United States

    Posts: 8,036
    Joined: Aug 06

    Jul 11th, 2008 (7/11/2008 4:44pm) in reply to skisteve

    yea lol, darkpoker had that idea wrong!
     
  6. Seykota Seykota is offline

    TX
    United States

    Posts: 8,385
    Joined: Jul 05

    Jul 11th, 2008 (7/11/2008 5:32pm) in reply to lanimilbus

    One of the things that's been on my mind when trying to position for when I pick up more stuff for the long haul is if we're gonna be trading sideways for awhile and what kind of length of time that may be. I don't know if it will or won't happen, but it's definitely something to consider.
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