I read an article on BLOOMBERG - headline : Deutsche Bank's DWS ABS Fund Assets Drop 30% Since End of July http://www.bloomberg.com/apps/news?pid=20601087&sid=as0eeEQ8eUJE&refer=home It´s a perfect example of how "MASS MEDIA" reports work : DWS is the retail arm of Deutsche Bank -it has in now way direct implications on subprime problems, but the MEDIA guys are publishing every sh.t of information in order to suggest subprime-mania !! I AM A BUYER of Deutsche Bank especially taking into consideration this article : Deutsche Bank Payday Burgeons on Subprime Trading Bet http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a.Ttj0n4GmwI
I've written a lot about the mtg companies and their problems on other threads. I don't know the details of DB's fundamentals but I will say that while I was writing mortgages, DB was buying a lot of our crappy paper. They had some VERY loose standards. I wouldn't touch the stock but I wish you luck.
That´s totally in contrast to their company policy and totally in contrast to the profits they made by shorting CDO´s !!! Quote from BLOOMBERG articel on July 30th 2007 : "Now Germany's largest bank is poised to reap a bonanza of at least $270 million and as much as $540 million from a strategy that enabled its traders to sell subprime mortgage loans with derivatives contracts that appreciated as the U.S. housing market suffered its worst slump in 16 years." Doesn´t make sense to me that they "suffer" from subprime - to the contrary they are the winners !