mavericks

The Big Whoosh: Is This The Beginning?

Hey Herb...here's a segment of another 'tip of the iceberg' article that appears today in Seeking Alpha. Only this is from someone who has a bit more optimism and I'm sure alot more success in their investing career.

The Chance to Go Shopping

"So what of the current market and the state of U.S. financial institutions? Clearly, they both suck. However, we've got JP Morgan Chase, B of A, Berkshire Hathaway, and maybe a few others who have the financial strength and business models to benefit from the rapid decline of Bear Stearns and the other inevitable meltdowns (Washington Mutual, anybody?). I think it is going to be shopping time for these firms, where they will selectively pick off people, business lines and entire firms at fire-sale prices. This is when good risk management and business judgment come in handy; parlay the crisis into an even stronger position at your less-prudent competitors' expense. Berkshire starting up a municipal bond insurer?

It is just the tip of the iceberg."

The Big Whoosh: Is This The Beginning?

Bravo, curious cat!! Finally get to read something with a bit of optimism. I go around to alot of websites and read the posts and everyone...and I mean EVERYONE is doom and gloom. Sure, the credit crisis is a huge debacle and anyone or any company that is leveraged 15-20 times should expect to be treated harshly when their bets go wrong. And anyone so stupid to max out their credit cards or buy more home than they can afford with no $ down should also expect to lose their bets. I personally, don't know anyone in those catagories!! They are obviously out there but when you read the posters at these websites or Herb Greenberg, you would think they make up the majority of Americans!! If everyone were like Herb Greenberg, our ancestors would have never ventured from the caves they lived in and we'd still be huddled around fires looking over our shoulders. Greenberg is a loser and everytime he goes on TV, everyone on CNBC chuckles under their breath because he's the last one to realize how little respect he gets.