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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (21695)	7/19/2005 12:00:22 AM
From: Paul Senior	Read Replies (2) \| Respond to of 78667

I still suspect both BAC and C are buys. At this point, I'm probably going to add to my smaller position in BAC. Certainly lots of media concern about BAC's acquisitions and complaints by retail bank customers about BAC's service (after acquiring Fleet, for example). C might be the better value here, maybe the better performer going forward. But in past, BAC's been the better one: finance.yahoo.com I believe I like BAC better for one of my conservative portfolios because I'm looking at BAC's pretty good dividend yield and the yearly div. increases. (In a prior post, I said they increased div. every year for past 12. That's so, but the better factoid is that they've increased the dividend every year for at least the past 25 years (according to S&P).

To: Spekulatius who wrote (21695)	7/19/2005 6:45:55 AM
From: John Carragher	Read Replies (1) \| Respond to of 78667

(Fleet, MBNA) are destroying shareholder value. What happens after they cut out all the overhead of fleet and mbna. after all they have to have duplicate overhead.

To: Spekulatius who wrote (21695)	7/19/2005 10:06:57 AM
From: E_K_S	Respond to of 78667

On my last purchase of C, I hedged the purchase by writing a straddle selling in the money covered calls (December $47.5) and out of the money naked Puts (Jan $42.5). My plan is to buy back the covered calls and then rewrite them once the stock rebounds. It's a bit unfortunate that my last purchase was closer to the recent highs rather than near the annual lows. Hopefully, everybody who wants out of the stock will finish their selling soon and the value buyers will step up. EKS

To: Spekulatius who wrote (21695)	8/5/2005 10:30:31 PM
From: Spekulatius	Read Replies (1) \| Respond to of 78667

re ,OFG,C,VIA - earnings review C: earnings look clean - the earnings shortfall is mostly due to "Corporate and Investment banking" shortfall. Consumer banking, Cards and Consumer finance have done OK. Nothing in the balance sheet that raises my concerns. I may add a last quart to my position on weakness. OFG: Earnings were subpar and the way they were accomplished indicates low quality. Balance sheet was expanded (buying securities) to increase interest income but with the current narrow margins in the carry trade that does not yield much. Still OFG leverage is fairly moderate (9% equity). It's obvious that OFG needs to control cost better. No serious red flags and writeoffs. I'll hold. VIA. Earnings beat estimates. Revenue increase larger than expected but margins are narrower. The buyback has helped to increase earnings/share. FCF down some also YOY, but still good. Cable networks are now 40% of revenues and the much talked about problem division Radio (which had higher earnings YOY this quarter) is now less than 10%. I think the stock buybacks and the split will create shareholder value. The stock is quite cheap for a high quality entertainment company. I'll hold my full position.