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

To: Jurgis Bekepuris who wrote (42805)	5/25/2011 12:18:40 AM
From: Spekulatius	Read Replies (1) \| Respond to of 78520

AGII - I rode it once from below 30$ into the the high 30's, so I hope to do this again. As for the chart and 2005/2007, that is somewhat misleading because in 2007 Argonaut merged with PXRE and the chart is that PXRE. Right or wrong, I looked into that matter and decided that i would not blame them for what happened with PXRE before the merger. At least that is how I recall from memory when I first looked at the stock a year ago. I think they underearn for their capital base but they don't blow themselves up with undue risk. They buy back stock mostly when it's cheap. Good enough for a decent but not an overweight position. As for BAC, the problems are well publicized. My bet is that the mortgage putbacks peter out soon, since it appears that Y2007 vintage has peaked (Y2005&Y2006 putbacks are already shrinking) and Y2008 the mortgage market was already in full retreat and won't be as bad as Y2005-Y2007. Even in the new framework there is 2-2.5$/share earnings power. The new CEO still has to prove itself, but should be better than Ken Lewis. I hope to ride it up to 15$, when sentiment for the banks improves,as it occasionally does <g>.