American Express - A Single Digit Stock?
Despite the horrendous 72% sell off in American Express this year, I would still not be a buyer at the recent price of $19 for the following reasons.
From my personal experience in the mortgage business, I have [...]
World Economies Burn, Politicians Debate
As the world economies implode the presidential candidates debate who is the angrier man; doesn’t seem to be inspiring very much confidence in the marketplace.
Smaller countries world wide are collapsing - Bulgaria, Estonia, Romania, Turkey - we [...]
Buy on the bad news?
It was difficult to tell today if the late Monday afternoon rally that brought the Dow back almost 400 points off the lows of the day was due to program trades or real buyers “buying on the [...]
General Electric’s tactics incite panic
General Electric’s plan to raise $12 billion in capital via a common stock offering and a $3 billion sale of preferred stock to Warren Buffet normally would seem to be a prudent move to raise liquidity in [...]
Insurance Industry Meltdown Continues
Insurance company stocks again suffered major losses today, with MET down 15%, PRU down 11% and HIG down a stunning 32%. The Wall Street Journal reported on the various reasons for the continuing sell off including the [...]
Next Bailout - Insurance Industry?
Insurance company stocks continued their brutal decline today as questions continued over capital adequacy, credit downgrades, uncertainty on future portfolio write-downs, potential cash calls on CDS obligations and investor disbelief over company statements that all is well. [...]
HIG Implodes
After the recent implosion of AIG due in large part to their massive credit default swap positions on sub-prime mortgages, investors did not need much encouragement to sell HIG after it disclosed having CDS exposure on AIG [...]
