Gaucho

Time to Short Financial Stocks - Starting with BofA

I was already shorting BAC and was about to back out of my position when the CEO decided to buy CFC. Well that told me that those boys still do not get the severity of the housing market or the economy as a whole. They were thinking that this problem will turnaround in a couple of quarters. They were also underestimating the animosity towards CFC resulting from the lending practices and the media’s coverage of those practices.
All of the above leads me to believe that the management are a bunch of overpaid, well connected, the world owes me something, ivy league morons.