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Strategies & Market Trends : Value Investing
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To: Tapcon who wrote (30483)3/31/2008 11:27:01 AM
From: Jurgis Bekepuris  Read Replies (1) of 78611
 
It does look like a negative in-depth presentation. On the other hand Tilson apparently was negative already after Pershing (I think) had a very negative presentation on monolines in the fall 2007 value congress. I wonder how much of his research is just being made to support conviction vs. try to see the other side of the coin. I wonder if he reads Marty Whitman who is on the other side of the trade. I wonder what he thinks about Buffett buying more WFC and USB - doesn't that mean that his investment in BRKA is on the other side of his bank shorting?

Personally, I would not touch monolines, since they are too dicey and a single random event may turn tide either way. On the other hand, I think that banks are good value now although I would follow Buffett just because he has done a lot of DD and knows the people in business. Of course, buying something like C, which has fallen a lot more than WFC or USB, may be higher risk and higher return, but this is where I cannot say whether it's worth it.
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