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    • WaMu Alt-A Pool Revisited [view article]
      Washington Mutual's current stock price is clearly noting the weakness' in WAMU's mortgage pools. There seems to be this overly redundant editorial commentary stating the obvious to a suspicious fault. The stock has already lost over 70% of it's value over the last 52 weeks because of the sub-prime crisis. Where was all of the negative press when the stock was trading over $45 a share 52 weeks ago?

      The authors that persistently keep "beating this dead horse" to the ground should temper their typing fingers with the VALUE that WAMU currently presents...but they don't. Fear mongering seems to be the specialty of the day and presents a pathetic "sign of the times" from the editorial authors getting press. WAMU will make it through this very predictable correction in the Real Estate market as will most big banks. Investors are very fragile beings and make decisions based on fear more than they ought to. Negative Editorial pieces just exacerbate this fear but to paraphrase Warren Buffet, be fearful when people are greedy and greedy when people are fearful. I think WAMU is sitting in a pit of fear and is truly ripe for the picking. I do feel there is a greater chance of acquisition than not which bodes well for a closer to book value valuation when the time comes. I wouldn't "short" this stock at it's current value unless you're willing to lose $10 -$15 a share on news of a merger or acquisition.

      Negative press is easy because hind sight is 20/20. If you want to impress me with your words of wisdom, try a negative piece when a stock is near it's 52 week high!       Mar 27 01:50 PM
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