I wonder if that was the shake out for the financial sector? Damn...these prices are just so tempting for a long-term value investment. I think I'll dip my toe in to CFC. You have to think that a company like this that has been around for 20 years doing this has to have at least a first clue how to turn themselves around.
Probably... but I would wait until the prices go down more. I am just basing this on gut feel but CFC probably will hit $5.00 as the panic hasn't begun yet IMO... and you feel the company will be around for another 10 years buy 1000 shares every point down and maybe in 5-15 years you'll make $100,000. I'm not a fundamental investor (I'm an intraday scalper), but that seems like the best way to place CFC for the long term. I don't think you have to pick a bottom yet though.
Nice trade on CFC been a winner for me all year. FNM was nice xmas gift, just a matter of time before there buble burst much like the dot.com era.
i was into shorting housing in summer of 05 after the large run up. late last year subprime mortgage houses. too bad i didn't have money to take advantage of my calls. nothing really since the summer in regards to housing. i would be too worried to short into a liquidity rally. i really shoulda been all over financials on the short side but didn't look in that direction.