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Valyooo (48.70)

How low can the banks go?

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8

October 14, 2010 – Comments (5) | RELATED TICKERS: JPM , BAC , WFC

So remember the BP spill and how it dragged down the entire sector (well, the whole market). People were saying things were really cheap, but they kept on falling. I think it was when they hit about 0.8 p/b is when they bottomed out for the most part.

Which banks are best? I don't know too much about the sector. I think JPM is the best, but i don't know too much about them.

They'll probably keep falling, but I will pick them up at a low enough price. Anybody watching any particular banks?

5 Comments – Post Your Own

#1) On October 14, 2010 at 2:59 PM, Momentum21 (97.95) wrote:

I like USB and PNC for the big guys. Regardless of this foreclosure issue the big guys are going to struggle for growth going forward...so keep an eye on the regionals for the potential of acquisitions into 2012.

KEY and UMPQ are 2 I kind of like... 

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#2) On October 14, 2010 at 3:49 PM, starbucks4ever (95.53) wrote:

usb 

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#3) On October 14, 2010 at 4:31 PM, MaxTheTerrible (84.83) wrote:

Among the big banks my favorite would be USB. Keep in mind though that my "love" for USB comes from personal experience dealing with the bank. Back in my graduate school days, when I was really poor and had less than 2 year credit history (clean credit history, mind you), I tried to get a car loan from these guys - needless to say - unsuccesfully. Although at the time it was really disheartening, it gives me at least some confidence in the quality of their loan portfolio...

Cheers!

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#4) On October 14, 2010 at 4:55 PM, chk999 (99.97) wrote:

WFC is probably not going out of business any time soon. Buffett owns a lot of it and he watches his investments like a hawk. If he starts selling in any volume, then time to get out, but not unless he does.

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#5) On October 15, 2010 at 9:35 AM, Valyooo (48.70) wrote:

Yeah, WFC is the stock I decided on.  I put in a limit buy at 18--thats never gonna get hit

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