2008 has me very excited with the housing/mortgage/credit crisis and the buying opportunity's that are unfolding now and looks to be extreme in the near future with more write downs. Who else is looking at scooping up some giant banks and such and holding for a good 3-5 years+ as recovery develops? Thoughts? Discussion plz...
May be safer to scoop up XLF in increments rather than individual plays. Sure, some will double but others could go BK.
C is not going bk.... WFC? i dont think so.... BAC? nope.... Im going to open positions and gradually add along the way. Looking at WM as a more speculative but higher reward trade throught his time as well. You think WM is possibly looking at bk?
Longer term, I think the financials are a buy, Citi, Merrill, Goldman (once it gets below $175), Morgan, and possibly the regional banks. The banks won't go bankrupt.
Watching the earnings and CC's coming up in the next two weeks and then looking to open on C, WFC, BAC...and a smaller position in WM. Also FRE & FNM are looking like they should be prime pickins as well. We'll see how many divis get slashed but either way im expecting some attractive bargains for the classic Value buy/hold strategy. 3-5 years out as recovery develops I should be sitting on a mini gold mine.