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Wachovia

Discussion in 'Money & Finance Forum' started by meatpile, Jun 17, 2008.

Page 6 of 8
  1. Jul 22, 2008 at 1:08 PM #51
    wolfpac

    wolfpac Full Access Member

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    VA, thanks for the explanation. That makes sense. Dang, I thought that would have included Golden West. Jeez!!!
     
  2. Jul 22, 2008 at 1:21 PM #52
    VA49er

    VA49er Full Access Member

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    No, that's the scary part.

    What's amazing to me is that just by cutting the dividend by 5 cents saves the company $700 million off capital per quarter.
     
  3. Jul 22, 2008 at 3:43 PM #53
    meatpile

    meatpile 7-9

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    Amazing run today.
     
  4. Jul 22, 2008 at 4:02 PM #54
    VA49er

    VA49er Full Access Member

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    Yep, lose almost $9 BILLION and stock goes UP over 20%.
     
  5. Jul 22, 2008 at 5:28 PM #55
    Hard Harry

    Hard Harry Sometimes Functional INTP

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    You're confusing leverage ratio with capital ratio again.
     
  6. Jul 22, 2008 at 5:31 PM #56
    Hard Harry

    Hard Harry Sometimes Functional INTP

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    Steel said no new equity issues to shore up capital.

    No further dilution of the stock that was already priced in. So the price corrected. In may just hold.

    I got in last week at just over $8. I might remodel my kitchen if I wanna take the tax hit.
     
  7. Jul 23, 2008 at 8:50 AM #57
    VA49er

    VA49er Full Access Member

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    It's a nomenclature thing. Both the capital and leverage ratio are tier one ratios. The writers werent' specific in the article. Well Capitalized Tier One Risked Based Capital Ratio is 6% or greater while the Well Capitalized Tier One Leverage Ratio is 5% or greater.
     
  8. Jul 23, 2008 at 11:10 AM #58
    chipshotx

    chipshotx Full Access Member

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    damnit

    should have bought BofA too
     
  9. Jul 23, 2008 at 11:26 AM #59
    wolfpac

    wolfpac Full Access Member

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    Wow, it has been a nice run-up. Still not convinced that the fundamentals are there to justify it. They are holding every Golden West Option Arm (California-heavy) on their books and I'm not convinced they've even made it a quarter of the way through those (there is a freaking 4 year California housing supply if you follow the Mr. Mortgage guy and his numbers). Plus, their core loss was 2.8 Billion which was at the top of their estimates (ignoring the Goodwill charge). It will be interesting to see if this run-up is sustainable. Who knows in this stock market anymore.
     
  10. Jul 23, 2008 at 11:44 AM #60
    VA49er

    VA49er Full Access Member

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    Amazing...

    From Bloomberg

     
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