TA

The Bank of America Bug

They had 6 months access to the books to decide to dump CFC. Either they are just ignoring the 'asbestos' or it's actually a good deal.

Will the Dollar Recovery Launch a Bank Rally?

Very nice article - few writers want to stick their head out and be contrarian on anything but the negative.

Thanks

These 32 Commercial Banks and Thrifts May See the Dung Hit the Fan

Honestly Reggie, ignore the fools who bring up the fact you are telling us this 9 months after everyone else - better late than never I say!

Hindsight is number #1 in investing! Yah hindsight!

These 32 Commercial Banks and Thrifts May See the Dung Hit the Fan

Alright you got me - I'm sure you have 14 worst case scenarios to parade in front of us in the coming weeks.

I called Buffett and told him I'm selling my WFC and he should do the same. Meredith told us a few weeks ago and we didn't listen and here you are telling us the same.

In fact I will sell my Canadian banks too(I live in Canada) just in case(they aren't on your list but every US bank is so it must be that you aren't including International banks in your analysis).

What a fool I've been - thanks for clueing me in.

Lost Decade for Stocks?

That's a horribly skewed and meaningly comparison.

The 90s ended with a huge bubble that didn't burst until the beginning of the next decade. If you broke it up by different 10 years segments, it would look differently.

Will BofA Really Buy Countrywide?

How many times do companies aquire other companies when they're cheap and near bankruptcy? This is one of those rare opportunities that shareholders complain, do not happen enough. You need to be a true value guy to appreciate this.

I have no doubt BAC will get their 6B(buyout + earlier purchase) value out of the stock. Relax, sit back and stop watching your stocks all the time. In 2 years people will be calling Ken a shrewd guy for this.

Why is BofA Buying Countrywide?

'The orange man got squeezed, and had no choice but to pull the rip cord'

Smartest thing I've read on seekingalpha in years

BofA's Countrywide Acquisition: Dumb And Dumber

I suppose it's much better when companies buy other companies when things are rosy and expensive - they will easily get their investment back and then some - the servicing business was alone worth just under 2B a year in 2004(much higher in the bubble years of 2005/2006). Even if it goes back to 1B in a worst case scenario, that's a return of your money in 6 years

Your article is a serious pile of crap

Financials: This Is What the Start of a Bottom Looks Like

The world is over, everyone will lose their house, hoard gold under your bed, short everything to zero, blah, blah

I'm sure Warren Buffett thought that way when he made his big bets as well.

Oh I know it's different this time...

BofA Will Lose Billions in Countrywide Deal

This is by far the lamest anti BAC-CFC article I've read so far that it's not even worth a comment. You should really pump your shorts somewhere else.

BofA's Countrywide Acquisition Maximizes Long Term Potential

Great comment from the previous poster

I should just accept that the world will end tomorrow, the US will turn into a 3rd world country and sell all my stocks, never investing again. If this was the 80s I'd be building a bomb shelter before Reagan starts WW III.

Thanks for cluing me into this

BofA's Countrywide Purchase is a Huge Mistake

As to your first comment about the size, clearly this was a way of skirting the 10% limitations that can only be done in a crisis. Also remember that's 10% of US deposits, not international(China Construction Bank anyone).

As for the falling knife concept, that makes sense as investor but how does this apply to the whole sale when it's made at bankruptcy prices? Granted the original 2 bill purchase was a clear mistake but what about the 84% for 4 bill?

What kind of premium is that for the lucrative servicing business?
Do you not think they can tear apart the company and wring 4 bill worth of equity out of it? Does 4 bill really mean much to a cash balance of nearly 400 bill?

I guess you are a not a follower of Buffett/Graham where you should always buy assets for pennies on the dollar if you can. No idea if you were around then but I'm sure you would have written this same short article on American Express when Buffett put 30% of his money into it.

Of course if you believe in amageddon, then your argument makes perfect sense.

As for your short, well the easy money has been made which is clear from friday's broad based financial short covering. I don't doubt that it could easily go lower but your risk has now gone up, hopefully the reward is worth it.

Bank of America Buys Countrywide - Who Gains and Loses?

I agree with the other posters, anyway you look at it - it's a good deal for BAC most of all. They get the lucrative servicing business and gov't backing all for pennies of what it's worth.

Once again Thomas Tan has proven that he knows nothing

BofA Deal May Not Rescue Countrywide Shareholders

So what does everyone think? Good price or bad price? Obvious the one made in August was a bad price

Countrywide Takeover By BoA Would Make Sense

So now we actualy have a price and can talk about this intelligently, is it a good price or a bad price?