Wachovia Corp. (WB)

All Comments on WB

  • commenter
    FirstCRM
    Oct 07 04:36 PM
    Bill Ackman Piled Into Wachovia and AIG Shares [view article]
    You did not need inside information to see that the remaining part of Wachovia was worth more than $1 after Citi purchased it....you see it was only four years ago that Wachovia had acquired AG Edwards for about $6B and that brokerage was one of the remaining assets of the stub. I tried to buy Wachovia all day for $1.50 but Ackman beat me to it. Oh well, at least I bought AIG in the low 2's. The only difference between Ackman and I is that he buys in the millions and I buy in the thousands!

    Next up BAC and RB.....perhaps V and MA too.     Reply
  • commenter
    James Cullen
    Oct 07 03:18 PM
    My Website
    Wells Fargo and the Wachovia Bid: Crafty or Crazy? [view article]
    Sumosama,
    Seems lately when I show any optimism and do that, it doesn't work out too well...     Reply
  • commenter
    Peppio
    Oct 07 03:03 PM
    My Website
    Latest On Hedge Funds, Banks And Bailouts [Housing Tracker] [view article]
    All these BS mix with politics in this election year is now turning the business world up-side-down !! The
    Congress has been ignoring this mess for years !! Now all of them run like rats trying to save their butts.     Reply
  • commenter
    BerkeleyBob
    Oct 07 02:32 PM
    Wall Street Breakfast: Must-Know News [view article]
    Thought it interesting that some pundits see oil between $50 and $80, link between oil & NG seems frayed. True, some nat gas producers are slowing down extraction, true PBR has a major oil field find which will ultimately increase supply, but I personally doubt the pundit's crystal balls. Decrease in US dependence on foreign oil, much of it coming from unfriendly nations, is going to be painful and not come overnight, but I strongly doubt we will see oil at $50 or even $80 and remain long PBR, WMB, EWZ and CHK with gradual add to these positions with what is left of my money. Reply
  • commenter
    Retired One
    Oct 07 02:23 PM
    @VIC: Top Hedge Fund Picks [view article]
    Don't anyone believe that this was a blunder that caught investment managers by surprize, bull cr*p.

    They all got millions of years end bonuses, for all the bad loans they gave out so we and the govt that will have to take it from our hides will take from us in the from of deleted benefits we worked for and depend
    on to survive our later years.
    Vote for someone that will not repeat 8 more years of this illegal travisity.
    Reply
  • commenter
    Retired One
    Oct 07 02:13 PM
    @VIC: Top Hedge Fund Picks [view article]
    Let's be aware that many are unable to have 10 to 15 years to recover the U.S.A. banking and securitized investments scandal.
    The C.E.O.'s have secured them selves a fortune and screwed the u.s.a people are allies in England and Asia aqnd elsewhere.
    And now our allies have been stung by the good old U.S.A. with our banking and investment houses.securitized securities.
    'Where do you invest your retirement savings so you can afford to live?
    What ever you have left that is?
    What if you don't have the time or place to survive
    the 10 to 15 years for the world investments to get over this criminal travisity from the american banks and investment community?
    O.K. you banking and waqll st wise guys you have got a lot to think about!
    How about some real answers.
    I didn't work a lifetime of jobs more than one at a time to have you back stab me.
    Any any answers from you dirtbags!     Reply
  • commenter
    debtacid
    Oct 07 02:05 PM
    Wachovia Deal: A Home Run for Citi [view article]
    OOPS, Tom. Looks like XLF just fell below it's July 15th low... Reply
  • commenter
    axelrod608
    Oct 07 12:56 PM
    Wall Street Breakfast: Must-Know News [view article]
    Newsflash - the Fed said today it will start buying "commercial paper" - loans with NO collateral. The beginning of the end of the dollar. These people wouldn't get to $1,000 on "Are you smarter than a fifth grader". Reply
  • commenter
    axelrod608
    Oct 07 12:53 PM
    Wall Street Breakfast: Must-Know News [view article]
    SF points out that 2/3 of the US economy is consumer spending. And much of that 2/3 is DEBT spending, not from income. If you realistically think of debt as pre-spent income, one needs to have a debt returement plan to keep even. Alas many ( most ?) Americans don't.

    Not only do they not have savings to use to deal with economic problems, they also have debt levels that they cannot reduce at current income. We have become an "upside-down"... society. And the folks who think that reinflating the credit bubble wil bring the economy back again don't realize that the economy was dysfunctional.

    You could pump any anount of new potential credit into the system and who's going to use it ? The already overextended ?

    You want the credit markets to come back the way they were ? Be careful what you wish for, You might get it. And regret it.     Reply
  • commenter
    sumosama
    Oct 07 12:51 PM
    Wells Fargo and the Wachovia Bid: Crafty or Crazy? [view article]
    I must have missed something...disclosure says no holdings with all of these great ideas! Is this just monday morning quarterbacking? Put your money where your mind is... Reply
  • commenter
    sclarksons
    Oct 07 12:46 PM
    @VIC: Top Hedge Fund Picks [view article]
    know your information provider.

    Pzena is a statistical analyst, his system works as a diversified system, but you copycat single positions at your own risk.

    Tom Brown's banking picks assumed the survival of the banking system. (bad assumption)

    other value guys have more mid sized circles of competence than RP and TB.

    What this cycle has proven is that you disregard Ackman and other smart value investors at your own risk.

    I've made a moldy 15% annualized in BRK with purchases when it was cheap in 2005 and 2007.

    It's been cheap this year too.

    I'd take a bubble in value over a "confirmed trend" any day.

    Value investors lose out early in the decline as cheap gets cheaper, and make money through the trough and into the next cycle.

    If you lose less into the trough, you make more over all.

    It all comes down to price and value. if you don't get that, give your money to someone who does.
    Reply
  • commenter
    Ishortyou
    Oct 07 12:45 PM
    @VIC: Bill Ackman on Wachovia [view article]
    lol...hope Wachovia gets to arrange its book of business, those toxic loans have to come out for sale no matter what, once they are out Wachovia will have a sound book banking business, I read that Frannie and Freddie just bought a hudge loan book from a bank I hope they do the same for Wachovia, the sooner the better. Reply
  • commenter
    Economics
    Oct 07 12:25 PM
    My Website
    BoA Cuts Off Countrywide ARMs to Save Body of Mortgages [view article]
    Countrywide’s new rates will be as low as 2.4% will sure help anyone with a mortgage, too bad it is for such a small segment of the population. I guess these people did not have mortgages with Countrywide, www.buymyhousebeforeth... and there is no relief for them. Reply
  • commenter
    Milt
    Oct 07 12:14 PM
    The Duplicitous Sheila Bair [view article]
    Give me a break!

    If you really beleive that " C is one of the most prominent and important financial institutions on the street" is right then i would rush out and invest in a hurry!

    But if you don't want to lose your a** then only borrow it to sell short!

    C's got about as much of a chance of survival as Countrwide as the shake out continues mabey even less!!!     Reply
  • commenter
    Right in
    San
    Francisco
    Oct 07 12:13 PM
    My Website
    Wall Street Breakfast: Must-Know News [view article]
    Too much of the discussion is about financial engineering. The reality:
    1. Two thirds of the US economy is consumer spending.
    2. Consumers (e.g. taxpayers; e.g voters; e.g. you and me) have been overspending for years, and have way too much personal debt and not enough savings.
    3. A major enabler has been the housing bubble and loose financing which, partly through home equity loans, has allowed people to have that extra SUV. That's over.
    4. As the Baby Boomers edge along toward retirement, they have miniscule (and becoming more so) savings. They have to conserve.

    So, what could save us?
    1. A better distribution of wealth that puts more buying power in the middle class;
    2. Foreign growth (Asia) that will support US exports - and purchase of US assets.
    3. A lot of personal and national belt tightening.

    Pogo had it right. We have met the enemy, and it is us.

    Reply
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