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53 Comments

    • Feeling Brave? Try Foster Wheeler [view article]
      Infrastructure stocks are not trading on fundamentals or prospects, they are being sold like the agri-business stocks, hedge fund liquidations, when they NEED to sell price, PE, backlog doesn't matter, nobody of size will buy into that selling, but when the selling is done, really big snap back. That's why the time to buy is when it just plain hurts. Buy 1/3rd posn now, 1/3rd posn down another 3-4 and the last 1/3rd down 3-4 from there, and wait till it hits $50 again in 12 months, that's how to make money. Oct 02 04:23 PM
    • Did the FDIC Sabotage WaMu's Management and Erode Investor Confidence? [view article]
      Even if the FDIC waited for the bailout bill it would have ZERO effect on WM stock or shareholders, they would still get ZERO, so what's the basis of the statement, it is not even relevant Sep 28 08:07 PM
    • Did the FDIC Sabotage WaMu's Management and Erode Investor Confidence? [view article]
      the FDIC was going to seize WN on Friday agternoon, that had been decided, a bank is NEVER told in advance to avoid a leak and assets running out the door, when it was leaked that this was decided (was leaked on Thursday) they came consumated the deal with JPM, obviously JPM knew about the situation and was given the info with the prospect of taking over WM on the week-end, yes this is all normal, minus the leak. There were also 3 other banks with the same access but they lacked the ability to make the decision immediately, Jamie Dimond made the call and got the bank. This is common, and seems to be the situation with WB this week, I know 2 banks (there are probably more) that have the same access with WB that was given with WM, and a decision is imminent, this will be a weekly occcurance going forward and will effect about 35-50 banks by November, and a necessary one, these banks need to be out of system. Sep 28 04:54 PM
    • You Can't Handle The Truth [view article]
      I agree with Michael and have said almost the same things for weeks, I do have some cash just in case, what is interesting is those that say they don't want to hand Bush the money, don't they realize in approx. 35 days he won't be the president anymore and in about 100 days someone else will have the responsibility for the $700b, so it isn't Bush getting the cash, maybe Obama if he wins will donate it to his "church" and Rev Wright...now that's scary Sep 25 01:47 AM
    • Washington Mutual: Short Interest Update [view article]
      I think at a $2-$3 price the risk/reward isn't there, especially knowing they are being shopped around. That may be the cause in the short posn. not increasing. Sep 23 10:11 PM
    • We've Crossed the Line from Capitalism to Socialism [view article]
      So much foe a lucid reply. The 30 cent figure comes from transactions that have already been done. Also, the banks don't trade with eachother because they all have the 30 cent debt themselves, what help is it trading 30 cent debt for 30 cent debt. Obviously you belong to that "poorer" classand feel like you aren't getting your slice of that pie, sorry your self esteem is so bad and BTW jealousy is an ugly emotion. I well know what a plug is, in my wealthy neck of the woods it's what we do the the poorer halfs mama's that result in morons like you. Say hi to your mama. Sep 21 12:54 PM
    • We've Crossed the Line from Capitalism to Socialism [view article]
      Bailout seems to be a nice catchy phrase, but does anyone remember when the gov't. bailed out Chrysler they made 10's of billions of dollars, and it's not a bailout for AIG, the gov't bought 79.9% of the co. which BTW increased in value by $15b on Friday, so the gov't will make billions there as well, and if anyone thinks the gov't will lose money buying debt at approx. 30 cents on the dollar and being able to hold it for 3+ years you are just drinking the kool-aid. Making a loan to AIG at LIBOR + 8.5% with 80% of the co. as collateral is not a bailout, especially if the co. has $150b portfolio of good assets but neess time to liquidate, time the market wasn't giving. With Bear Stearns the gov't. didn't write a check, they just said they would take some assets that couldn't be liquidated off the books of JP Morgan which is in essence doing the same as with AIG, the gov't has the staying power to wait, the individual companies do not. Any lucid replies? Sep 21 12:25 PM
    • Merger Arbs Balking at Merrill/BofA Deal [view article]
      Ken Lewis never met a deal he didn't like, his ego wants to beat Jamie Dimond and his manhood wants to be bigger than Citibank, so the deal was done. My worry is that the SEC is letting BAC get to be "too big to fail" and we will have the same problems in 5 years that we are having now with AIG and LEH, etc. BAC will have the largest morgage dept, largest credit card dept and most bank branch foot print, aren't we creating another monster? BAC got nothing but assets with the Fleet purchase, zip with the Countrywide buy, didn't get much beside names and debits with MBNA and will get a brand name with Merrill, do you think the good high producing brokers want to work for BAC??? Sep 17 05:00 PM
    • History Suggests the Financial Bottom May Be Near [view article]
      Ken Lewis never saw a takeover he didn't like. He blew the Fleet takeover, got zip for that deal, except to settle lawsuits for insider trading by the Fleet specialists, settle lawsuits for inappropriate sales by the brokers, settle a lawsuit on selling ARPS, terminated everyone in the company, lost brokerage assets, lost some deposits (as is expected) bought Countrywide which he could have gotten free had he waited, and now paid a premium for Merrill which he didn't have to pay, than gives himself a raise and says the deal was too good to pass-up, eventhough every other bank passed them up. He will tur out to be as bad as Dennis Koslowski, minus the illegal stuff, he destroys solid businesses. Sep 16 10:12 AM
    • Foster Wheeler: Best-of-Breed Stock in a Beaten Down Industry [view article]
      Einstein, I we would rather buy alongside the company to help reduce the float, if they take stock from weak hands it redusec sellers, if we can accumulate other stock at the same time, and we are not sellers, it reduces the number of weak hands and takes inventory away thus should pressure the stock up as float is reduced, there's the plan. Sep 13 01:55 PM
    • Foster Wheeler: Best-of-Breed Stock in a Beaten Down Industry [view article]
      Their market cap is $6.5b, they have almost $10 a share in cash, subtract that from the stock price and you get $32 a share, if they earn $4.25 next year (avg est) the PE than is 7.5 and their revenue next year is projected to be $8b so the entire company can be bought for LESS than the sales they will have next year. Sep 13 11:24 AM
    • Foster Wheeler: Best-of-Breed Stock in a Beaten Down Industry [view article]
      My company has aquired just under 3% of FWLT and plan to take that stake to 4.5% by year-end if we can buy at reasonable prices, and our pricing models say "reasonable" is anything below $50, the buyback announcement today did cost us money but long term, a minor expense toward a huge windfall. We believe the company to be worth between $72-$78 depending on commodity prices in the back months, which so far look pretty weak, any real strength in back months of oil, nat gas, and coal place the valuation closer to the high end of our range. This stock is too cheap on any metric. Sep 12 05:45 PM
    • Chewing on the FDIC List of 'Problem' Banks [view article]
      The feds absolutely do NOT want to take over WaMu, the insurance needed would bankrupt the FDIC assets, which BTW are not assets at all but IOU's with the federal reserve, just like Social Security. For those who believe WaMu will survive, as I do, just buy the stock, as I have and make a ton of money when the stock rises, no need for a pissing match. I bought today at $2.06 and $2.11, and will continue to buy in the $2-$2.25 range. My thesis is that they wouldn't have hired a new CEO to immediately be taken over by FDIC, they more likely would have fired Killinger and said the board has "begun a search for a new CEO" than would not have been on the hook to pay someone whom they must immediately terminate. Sep 12 12:46 AM
    • Time To Bail Out WaMu? [view article]
      WaMu didn't bring in Fishman as a CEO if they intended to take it over, they would have gotten rid of Killinger and said they were "looking for a CEO" you don't take someone away from a job the take over the institution and give it to another bank and leave the new guy hanging, WaMu will NOT be taken over by the FDIC anytime soon, the stock is a good HIGHRISK buy at $2.50, but to expect the FDIC imminently would be a mistake Sep 10 02:33 PM
    • A First Look Inside the Fannie / Freddie Bailout Plan [view article]
      User 257662, sorry but yes, you should have been more diversified and taken profit a long time ago, Sep 08 09:43 AM
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