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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (33034)	12/13/2008 11:42:49 PM
From: Spekulatius	Read Replies (3) of 78752

BK, STT you are correct about STT - it's a high risk play. I don't own it any more, sold it at a loss. Despite the fine business, there are big problems with STT debt portfolio that sits on huge market to market losses and the 25.B$ conduit that looks like it could implode any moment. In this case STT would have to eat significant losses right away. BK's problems maybe less but I think their are of similar nature. This sort of reminds me of my play on the IPP (independent power producers) in 2002 when I choose EP and MIR as the best of he pack. Those picks did not work out too well either and is a stark reminder of not investing in embattled business when the balance sheet cannot be understood. Investing in bank stocks this year is like playing Russian Roulette with 6 bullets in the drum.

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