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I enjoyed your article until you stated that you bought the company. Everyone has reasons for buying or speculating in a stock; most will not publish their thesis if it lacks any intellectual horse power. Your investment thesis leaves much to be desired. You are saying that because AMTD is worth $11B that ETFC is cheap at $1.5B? The last time I checked AMTD does not have any meaningful exposure to deteriorating credit assets.
Nov 13 13:47 pm
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All Comments by Research Guy »E*Trade: A Bargain At These Levels? [View article]
Execution and franchise mean nothing when the underlying business is going to possibly die. Furthermore, if ETFC is a BK candidate, why would anyone buy it now? A purchaser will get a better deal in bankruptcy proceedings, meaning all equity will be wiped out.
This stock should not even be termed speculation right now. Rather, you investment falls into the reckless abandon category.