Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: patron_anejo_por_favor who wrote (63383)	1/31/2001 2:14:10 AM
From: pater tenebrarum	Read Replies (2) of 436258

got COF puts...and i'm planning to add. note: financial services income statements and balance sheets are among the most opaque around...no-one can lie better than they do. virtually every sub-prime lender that went belly-up in recent years had a 'record quarter' just prior to going into ch. 11. look at the banks, and how much 'off balance sheet' exposure some are carrying...you really need to work through all the footnotes to get a sense of what's what, and even then you won't really know the true extent of the risks. so my approach is actually much more mundane - i know we've been in a credit bubble boom, and i know how those end. it's not pretty for the financial stocks usually. admittedly to be bearish on the sector hasn't been exactly rewarding of late - but it will be, and in spades imo.

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