WBalumni

Wachovia: Buyable?

Because of promises made to the long term investors and retirees that rely on that dividend. Unfortunately, WB management lost sight of these continued promises and representations and began trying to grow their way into a home run. They were intoxicated by the mid fifties stock price. On the other hand, many insiders saw this as an aberration and sold in the high fifties while investor relations was touting that WB should be worth $60 in short order. Unfortunately not enough of us acted on this counter indicator and have paid a high price.