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 What does $7.49 buy you? View next topic
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: What does $7.49 buy you?
PostPosted: Mon Oct 03, 2011 6:04 pm Reply with quoteBack to top

BAC trading below $6 ... $5.52 at last check (down 10% on the day).

Time for somebody to start spreading QE3 rumors ...

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"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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mahalo guy
Demolition Man


Joined: 28 Jun 2008
Posts: 2082
Location: Honolulu

Re: What does $7.49 buy you?
PostPosted: Tue Oct 04, 2011 2:37 pm Reply with quoteBack to top

Is BAC going sub 5 bucks?
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
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Location: Maryland

Re: What does $7.49 buy you?
PostPosted: Tue Oct 04, 2011 3:14 pm Reply with quoteBack to top

mahalo guy wrote:
Is BAC going sub 5 bucks?


according to my Magic 8 Ball, "It is decidedly so"

BAC got down as low as $2.53/share back in FEB '09 ... maybe we'll test that again ...

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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dreamer
Demolition Man


Joined: 09 Aug 2007
Posts: 2101
Location: Northern California

Re: What does $7.49 buy you?
PostPosted: Tue Oct 04, 2011 8:10 pm Reply with quoteBack to top

Different subject but what could have transpired to launch the DOW 400 pts in the last 49 minutes of trading? Gee what a bunch of crapola...oh yeah...

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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: What does $7.49 buy you?
PostPosted: Tue Oct 04, 2011 8:37 pm Reply with quoteBack to top

dreamer wrote:
Different subject but what could have transpired to launch the DOW 400 pts in the last 49 minutes of trading? Gee what a bunch of crapola...oh yeah...


Good News!!!! Europe is saved!!!! ... at least until tomorrow ... tomorrow we'll be "doomed" again ...

so what happened ... at 3:15pm a rumor was spread that some bank that you have never heard of before from a country that doesn't even have its own government was going to be allowed to play "good bank, bad bank", and the shorts paniced.

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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bdc63
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Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: What does $7.49 buy you?
PostPosted: Thu Oct 06, 2011 11:42 am Reply with quoteBack to top

Latest on Dexia:

http://www.zerohedge.com/news/.....tionalized

Quote:
As predicted, the Dexia "bad bank" rumor lasted all of, oh, 24 hours. After exhausting all talking points, French and Belgian politicians took out the abacus and were horrified to learn, as we suggested, that any implicit backstop would cost them dearly, and in France's case, at least one A of those critical AAAs that continue to keep Europe afloat. So implicit moves to explicit and as Belgian De Tijd reports, "the Belgian government will nationalize Dexia Bank Belgium." From the article: "the federal government came together this morning to rule on the future of Dexia Bank Belgium. There were several scenarios on the table. One was the nationalization of Dexia Bank Belgium (DBB) . This means that the Belgian state will buy DBB to quickly resell in the future. The disadvantage of this scenario is that the shareholders suffer most because they are left with the unhealthy parts of the group (the bad bank)." It also means that Belgium can kiss its sterling credit rating goodbye, and its CDS will continue going up until it meets that of Dexia, which will now have the same implied risk as that of the government about to consume it. Two questions arise next: will the website of Dexia be down indefinitely as locals decide that keeping their money in an insolvent bank may not be the best option, and, secondly, who will nationalize a governmentless Belgium next?


_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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udgqwe424
Dud?


Joined: 16 Oct 2011
Posts: 1

Re: What does $7.49 buy you?
PostPosted: Sun Oct 16, 2011 4:56 pm Reply with quoteBack to top

In recent years, the stock market has achieved significant reductions. Some short-term investors have lost some money. Many new stock market investors look at this and be very skeptical about doing now.

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stock market
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
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Re: What does $7.49 buy you?
PostPosted: Thu Nov 03, 2011 8:58 pm Reply with quoteBack to top

B of F'in A at it again:

Bank Of America Common Dilution Coming: To Issue 400 Million New Shares

Quote:
And to think it was less than two months ago that Warren Buffett took a bath to provide the bank with capital it had "absolutely no need for" but was happy to take it anyway. Well, it turns out the firm is preparing to raise just a "little" more capital. From the just released 10Q: "During the third quarter, global economic uncertainty and volatility continued as described more fully in the Executive Summary – Third Quarter 2011 Economic and Business Environment discussion on page 7. Concerns over these and other issues contributed to a widening of credit spreads for many financial institutions, including the Corporation, resulting in lowering of market values of debt and preferred stock issued by financial institutions. The uncertainty in the market evidenced by, among other things, volatility in credit spread movements, makes it economically advantageous at this time to consider retirement of issued junior subordinated debt and preferred stock. As a result of these matters, we intend to explore the issuance of common stock and senior notes in exchange for shares of preferred stock and, subject to any required amendments to the applicable governing documents, certain trust preferred capital debt securities (Trust Securities) issued by unconsolidated trust companies, in privately negotiated transactions. If we pursue the exchange of Trust Securities, we would immediately use the purchased Trust Securities to retire a corresponding amount of our junior subordinated debt that we previously issued to the unconsolidated trust companies. These transactions would increase Tier 1 common capital and, on an after-tax basis, reduce the combined level of interest expense and dividends paid on the combined junior subordinated debt and preferred ...We will not issue more than 400 million shares of common stock or $3 billion in new senior notes in connection with these exchanges."

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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achtung
Nitroglycerin


Joined: 03 Jun 2010
Posts: 716
Location: Germany

Re: What does $7.49 buy you?
PostPosted: Sat Nov 19, 2011 1:35 am Reply with quoteBack to top

now that BAC is pulling a 5, it may be time to go long. Especially when the chatter is still growing to short the company.

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bdc63
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Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: What does $7.49 buy you?
PostPosted: Tue Nov 29, 2011 3:00 pm Reply with quoteBack to top

BAC is making another run at sub-$5 ... $5.19 today at the open.

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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