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Strategies & Market Trends : Value Investing

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To: Madharry who wrote (31442)	7/11/2008 10:45:42 AM
From: Jurgis Bekepuris	Read Replies (1) of 78667

I agree that financials are very scary. I remember a lot of people recommending FRE and FNM over the years with the suggestion that they are government backed and can't fail. Right now every one of FRE and FNM investors is under water (OK, except 1991 investors ;)) and the ultimate outcome is unknown. I remember looking at them numerous times and having no clue how to value them. On the other hand, people who invest into financials that will survive this downturn will get great returns. Of course, it is very hard to say who will survive without huge dilution. I'll just ride Buffett's coattails on BAC/WFC/USB/AXP and of course BRK/WSC. Note that BAC is possible the smallest Buffett position and may not be really a "core" holding, so perhaps it should not be counted as "Buffett approved".

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