I forgot to add, Doug Kass also said in not too long ago, that WFC at $27 was a buy, and if you had 2 years horizon, at $27 you could double your money...
I hope nobody has acted on this free advice - WFC flopped around in that area for about a week to 10 days, then decidedly went down to now 10 to 15 range - of course it had made several spectacularly short-squeeze rallies and even made it back to 20xx a couple times in the process...
Imagine if you bought at 27, now under 12 - even if it doubles you are still under...
Take any talk with a big grain of salt, such as Buffet told the American Public we must take Paulson's TARP and once that was administrated, we would be OK... That was in October. We are now at least 2500 Dow pts down and Berkshire has lost another 30% of value...
Personally, I felt Buffet was using his reputation and influence, trying to save his holdings... but he way underestimated the magnitude of the problem, and the now wiser-up (thru the hard-knock school) investors. |
