Wachovia

I wouldn't be so sure about the not going out of business part. That was my fear when it was at 8, and I had my finger on the mouse button to sell one stock and buy WB. But I didn't.

The fear was wrong, but it wasn't misguided. Failure was the concern that week.

 

Can't happen. The government would be obliged to bail them out. The failure of a major bank who owns the financing of major industry players would have ripples in the economy that would be nearly impossible to recover from.

 

You must be a fan of efficient market theory. I agree it won't stay that low, but that doesn't mean it won't get that low again at some point. Just like it just did.

 

The fact is it got that low and it might not get that low ever again. Even if it dipped below after you bought around 8 it's going to go up.

I know little to nothing about investing. I'm just trying to figure out from people who seem to the logic being used.

I have a really hard time believing Wachovia would ever be in the situation of IndyMac and if they got bought out, it would eventually go up.

 

You have to remember that the old Wachovia has already been in a situation similar to IndyMac a couple of years ago. Hence the reason they were bought by First Union. It was the old Wachovias credit troubles that got them bought back then. Nothing surprises me anymore concerning stocks. The WB stock may never get that low again, then again it may. The bank's fundamental's don't justify a 20%+ in stock price but maybe the stock was to low to begin with. It seems the market is going more on what Steel may do than on what he has done. Granted, the man has only been in for two weeks. Did you see where he bought a million WB shares on Tuesday and by the end of the day had made a $1.5 million profit after the runup? Not bad for a single day.

 

:fu7:

 

Wachovia. LOL

 

it was a little hard to predict...some nutty shiite going on in the world these days.

 

Amazing to think that Golden West took down Wachovia. Simply amazing.

 

LOL LEHMAN BROTHERS.

Way to go, Paulson.