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 Buy Banks?

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Thump

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Posts : 2719
Join date : 2008-05-13
Location : Central Florida

PostSubject: Buy Banks?   Mon Jun 23, 2008 12:02 pm

This is an excellent time to invest in the market and a time to rejoice
for investers that want to invest in stocks.
There's two articles today on Yahoo finance stating that's the case
with banks as well. I can't quite jump on board for that one though,
I have a feeling and a distrust of them that makes me think they
haven't come clean. They've done what they had to but then stopped.
I usually jump in too early but I'm not ready on the banks and
brokerage houses. I hate to miss anything but their prices are not
low enough for the risk and I'm still waiting for the other shoe to
drop. I'll stick with the about 10 shares of Citibank that were spun
off to me and about 50 shares of Wachovia from my shares in
First Union that took them over. I'm still ahead on those but am
not increasing my position more than letting the dividends
reinvest with Wachovia.

Thump
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rockhump

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Join date : 2008-05-16

PostSubject: Citi group   Tue Jun 24, 2008 5:32 am

Yeah, probably too early for this sector but I did have Citi in my fantasy 1 year portfolio. Another qtr of write offs and they should bounce by the year's end?
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Thump

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Location : Central Florida

PostSubject: Re: Buy Banks?   Tue Jun 24, 2008 8:28 am

I think the future for banks is unknown even to the banks and they're just hoping for the best and trying to struggle on.
It looks like congress may pass the bill to help homeowners escape foreclosure and that might turn some of the loans back into being serviced. I don't see good times yet and don't know when of if some of them will turn around.
I think we have another financial crisis ahead and I believe it'll be credit cards. I expect most people will max out their credit cards to keep afloat and service their mortgage debt as long as they can. Then they'll be bankrupt.

Thump
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