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

To: Paul Senior who wrote (32065)	9/18/2008 2:03:34 PM
From: Terrapin	Respond to of 78670

Thanks for the reply Paul. I guess Wells Fargo sees something that we don't ;) rttnews.com Of course, this happens while I am typing my message and I miss any chance to buy under five. He who hesitates... I bought some more DSWL under $4 (barely). Here's hoping that America's love of cheap plastic electronic gadgets remains strong!

To: Paul Senior who wrote (32065)	9/18/2008 6:17:21 PM
From: Madharry	Respond to of 78670

the business models for financial companies are at great risk because they always revert to doing the same stupid things in cycles and because government reverts to doing the same stupid thing too. Passing the buck to the greater guru. When I was a loan review officer at a major money center bank we never spent any time with AAA credits because we assumed that if there were any doubts at all the company would not have been granted an AAA rating. Looks like we were all wrong about that. Similarly we did not grade derivative exposure- there was a special department set up to do that- hopefuly people with quant skills. I imagine that these hot shot insurance companies made a few bucks insuring all these triple A credits from defaults only to find out when it was too late that the rating agencies made a mistake- " sorry my bad bro" now explains why a former dow component now teeters on the brink and required massive federal funding at borderline loan shark rates. It also explains the magical disappearance of 3 investment banks and fed on the hook for trillions of xtra dollars. In this administration when the going gets tough unfortunately the tough go to war.