OK SERIOUSLY NOW!!!
BAC closed down AGAIN today at $18.72. Oh. My. Goodness. This is madness. Dividend yield is over 13% now. Looks like everyone is pricing in a dividend cut. This is messed up. Big time. I’ve already lost my shirt. Now I’m losing my lunch.
July 15th, 2008 at 11:32 pm
Ever wonder why I changed majors?
July 16th, 2008 at 1:48 pm
My concern is still how many more mortgages will go belly up and how deep there exposure is. I’m sorry to say I don’t think it has hit bottom yet. I told my wife last night I wanted to buy 200 shares of WFC because I thought it was a good buy. Of course I never sat down and did the trade. At lunch I checked to see where it was and it was up nearly 25%. I should have pulled the trigger and bought.
July 17th, 2008 at 8:03 am
Well, we had a good day yesterday. Up over 20%. Now all I need it to do is double, and then I’ll be well on my way to break-even! Woo Hoo!