Bingo 2

How To Buy a Bank (and Other Beaten-Down Stocks)

The one thing Mr. Davis seems to ignore is the quality of management. WM has done a terrible job with major over expansion led by people seemingly intent on making them the largest bank in the world. I would be interested in why Wachovia was not on his list. Talk about dumb moves ( which admittedly might turn out as a positive) if California does not go bankrupt in the mean time. Again however the desire to be a bank which covers East to West seems to be the prize which managers can not resist.