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  • Financials To Resume Meltdown Momentarily
    "...buy and hold has been a losing strategy."

    Has there EVER been a bear market where "buy and hold" wasn't a losing strategy? For that matter, is there ever a time when "buy and hold" isn't outperformed by any number of other strategies? The difficulty (some would say impossibility) is in selecting short-term strategies which, looking back over a longer term, have outperformed.

    "1. SEC protection against naked short selling ends now."

    And you don't think the recent decline in the financials is anticipatory of this rule change? Why do you think the effect isn't already priced in?

    Much of the rest I agree with, except one thing: the value of prime mortgages. The decline in prime, GSE-backed mortgages presents a huge opportunity for the well-capitalized, as the market has beaten down their values unnecessarily. Those who are able to keep large amounts of these assets on their books will be rewarded on the other side of this correction, as these assets will appreciate almost exactly as much as they have depreciated to date. The government has made clear that it will make good on FNM and FRE promises - where's the risk that has caused these assets to decline?
    Aug 13 08:39 am |Rating: 0 0 |Link to Comment |View article
  • Ten Reasons to Like American Express
    Prospective investors should be aware that AXP is facing rising delinquencies and a tougher credit market, just as is every other lender. Certainly, AXP is less susceptible to this problem than for example COF, but it's not immune, and has significantly increased its loss provisions in the last quarters.

    I'm not saying to stay away, just to have your eyes open.
    Jun 24 08:23 am |Rating: 0 0 |Link to Comment |View article

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