You'll remember my call of Countrywide going under on August 16th, right? Armed with this information, it looks like no shortage of large institutional idiots got their checkbooks out and bought large positions around $20 a share. Well done guys - it's now $8...and that's after a run-up in the shares today thanks to "unidentified sources" (aka, some hedge fund that is long and desperately trying to unload shares pretending he "knows an insider") floating a rumor that B of A was going to buy it...
As I am fond of saying, "beware the CEO with a scratch golf handicap"... I can now also add another investing rule..."beware the CEO that has a George Hamilton-complex regarding his tan"...
No comments:
Post a Comment