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Richard X. Bove on Lehman: An Assault on Reason

So the "smart players" know the real value of Lehman's 'assets'?
Koreans are smart. They walked away. When level III assets are wriiten UP, consider buying. When a company raises capital to fund growth, consider buying, as Meredith Whitney says. When they raise capital solely to cover losses, in an industry that has been extremely profitable for years, BEWARE.