Seeking Alpha

Mike Young  

View Mike Young's Comments BY TICKER:
  • Hudson City Bancorp: Great Buying Opportunity or Bear Trap? [View article]
    Thanks Chowder. I agree that the CEO has earned some "faith" given the company's performance over the past decade, including during the crisis. I think Hermance and his team is positioning the bank well in terms of prudent expansion and hedging the bank's portfolio against rising interest rates. The fact that he won't pursue business at any price reminds me of Berkshire's approach in the insurance industry where they write less policies when the pricing is not attractive.

    One thing I would like to see are some acquisitions, given the number of bank failures and likely consolidation that will happen (again) in the banking industry, but as you say we have to have some faith that management is looking into these opportunities and will pull the trigger if something attractive enough comes along.
    Feb 17, 2011. 08:25 PM | Likes Like |Link to Comment
  • Hudson City Bancorp: Great Buying Opportunity or Bear Trap? [View article]
    Thanks for the feedback! I don't mind different opinions, especially when they're backed by money (i.e. "short people") because that creates a buying opportunity for me. :)
    Feb 17, 2011. 08:17 PM | Likes Like |Link to Comment
More on HCBK by Mike Young
COMMENTS STATS
112 Comments
38 Likes