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$14.88 -0.50 (-3.25%)
7/3/2008 1:01 PM

Wachovia Corp (WB)

CAPS Rating:
*

Provides a wide range of commercial and retail banking and trust services through full-service banking offices located in states throughout the Southeast. The company provides various other financial services, including mortgage and investment banking.

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Recs

11

Avatar ww2004 (99.43) Submitted: 5/14/08 1:05 PM : Underperform Start Price: $27.43 WB Score: 34.78

There is a lot of speculation that the worst of the credit crisis is over. If sub-prime were the only concern that might be true but the next wave will be prime borrowers with option ARM loans. As average house prices continue to fall and option ARM rates begin to reset, over the next year banks like WB and WM will continue to perform poorly. Golden West, now part of Wachovia, created the option arm and has billions of dollars of exposure, much of it concentrated in hard hit California.
This one will have to wait until the end of 2008 or early 2009 to perform well.

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Avatar Duckhuntercock (47.80) Submitted: 6/07/08 11:09 AM

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The activist shareholders will be in this stock when it gets driven down to 18.90. Check out all of the PUT prices at 17 and the Oct 15 that people are paying up for.

It is amazing that 1 year ago WB was the God of Banking....they will be a take out candidate. Watch.

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