Bank Talks: Fear of Nationalization?
After a hellish week in the stock market, a pop in the coming week is expected and inevitable. Even though BAC and C went down a lot this week, I believe that they will come back up. As soon as rumours of nationalization get cleared, they will no doubt turn around. I may be wrong, [...]
Tagged as: bank of america, banks, bear market, bear stearns, citigroup, countrywide financial, hope, JP Morgan, merrill lynch, nationalization, overreaction, stimulus plan, washington mutual, wells fargoObama's New Stimulus Plan
Last week, I listened to Obama’s press conference speech on his newest stimulus plan. My first impression is that Obama is truly a great speaker. We don’t know whether his plan will work out in the end, but the hope he brings to Americans will surely get things going. The new plan seems to have [...]
Tagged as: banks, foreclosure, government, hope, jobs, obama, press conference, stimulus plan, troubled assetsStock Picks
Bullish (buy price)
DRYS @ 14
Extremely low P/E ratio
Undervalued compared to other dry shippers
PCLN @ 54
People going to vacation during holidays
Strong revenues in past quarter
Excellent management team
GS @ 70
One of the longest standing investment banks that have strong forecasts
Very low P/E ratio
BBY @ 25
Holiday season approaching
Low P/E ratio
Circuit CIty gone bankrupt means less competition
JPMorgan to buy Bear Stearns for $2 a share
On Sunday, JPMorgan Chase said that it will acquire rival Bear Stearns for a bargain-basement $236.2 million, or $2 a share. It is unbelievable that the once 5th largest investment banks in the world went into total collapse in just a few days.
Furthermore, the stock price went from around $90 in February to a low [...]