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velecico
3991 Posts |
 Posted - 05/27/2008 : 6:58:51 PM
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Fast Money had WAMU as a long shot to survive and stock to strive , any comments ? |
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CoolMtgGuy
3704 Posts |
Posted - 05/27/2008 : 7:02:40 PM
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| Well .... they may have it right. Now that Wamu no longer has bad, greedy mortgage brokers in the origination channel, they may just do well as a plain jane retail bank. |
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Scrooge McDuck
8837 Posts |
Posted - 05/27/2008 : 7:10:42 PM
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quote:
Originally posted by CoolMtgGuy
Well .... they may have it right. Now that Wamu no longer has bad, greedy mortgage brokers in the origination channel, they may just do well as a plain jane retail bank.
they still have that portfolio. i wouldnt trust any institution that was in the lending game over the last 5 years. check out wamu, lehman and citi's level 3 assets. on their books, they have migrated these portfolios to an area once reserved for office supplies and fixtures. |
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CoralSnake
10880 Posts |
Posted - 05/27/2008 : 7:11:32 PM
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quote:
Originally posted by Scrooge McDuck
quote:
Originally posted by CoolMtgGuy
Well .... they may have it right. Now that Wamu no longer has bad, greedy mortgage brokers in the origination channel, they may just do well as a plain jane retail bank.
they still have that portfolio. i wouldnt trust any institution that was in the lending game over the last 5 years. check out wamu, lehman and citi's level 3 assets. on their books, they have migrated these portfolios to an area once reserved for office supplies and fixtures.
lol |
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velecico
3991 Posts |
Posted - 05/27/2008 : 7:18:32 PM
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So , do you think is worth a shot buying now ? |
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Scrooge McDuck
8837 Posts |
Posted - 05/27/2008 : 7:25:12 PM
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| im no wall st guy by any means. not even close. so i could be way off. but i think wamu gets gobbled up by another bank soon and your money would be better served elsewhere. |
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Scrooge McDuck
8837 Posts |
Posted - 05/27/2008 : 7:26:34 PM
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quote:
Originally posted by neo-logic
quote:
Originally posted by CoolMtgGuy
Well .... they may have it right. Now that Wamu no longer has bad, greedy mortgage brokers in the origination channel, they may just do well as a plain jane retail bank.
Yes ... because we all know that retail banks don't have greedy loan agents enticed by the same kind of incentives, right?
we have wamu to thank for this whole new appraisal ordering bs thats coming out. |
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CoralSnake
10880 Posts |
Posted - 05/27/2008 : 7:26:36 PM
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quote:
Originally posted by Scrooge McDuck
im no wall st guy by any means. not even close. so i could be way off. but i think wamu gets gobbled up by another bank soon and your money would be better served elsewhere.
If Wamu gets bought, the stock will perfom well. |
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Scrooge McDuck
8837 Posts |
Posted - 05/27/2008 : 7:28:31 PM
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quote:
Originally posted by CoralSnake
quote:
Originally posted by Scrooge McDuck
im no wall st guy by any means. not even close. so i could be way off. but i think wamu gets gobbled up by another bank soon and your money would be better served elsewhere.
If Wamu gets bought, the stock will perfom well.
depends on why theyre being bought.
nick wants a long term play. you can find no load, passively managed mutual funds that will do better over time then any one single stock. |
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dkendall1979
10261 Posts |
Posted - 05/27/2008 : 7:32:54 PM
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| You're money would be better served on one of the great recession picks such as BUD. |
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1stintegritymort
1298 Posts |
Posted - 05/27/2008 : 7:48:12 PM
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| if you're really going to buy a financial stock, you should get JPM. they have a decent dividend and are one of the best managed companies out there. their losses are minimal and even with the bear stearns deal they will come out on top when its all said and done. WaMu may get bought out but their problems wont be over until those POA's recast in 2010. i would say they are in as much trouble as CW. over inflating those appraisals hasnt taken full affect yet. think about what they did. that will only make their losses even greater than what they should be. the worst for them has yet to come. |
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CoolMtgGuy
3704 Posts |
Posted - 05/27/2008 : 7:55:27 PM
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I hope you saw my layer of sarcasm in my statement.
quote:
Originally posted by neo-logic
quote:
Originally posted by CoolMtgGuy
Well .... they may have it right. Now that Wamu no longer has bad, greedy mortgage brokers in the origination channel, they may just do well as a plain jane retail bank.
Yes ... because we all know that retail banks don't have greedy loan agents enticed by the same kind of incentives, right?
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david_32767
282 Posts |
Posted - 05/28/2008 : 06:09:48 AM
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| You guys and gals slay me. Still haven't learned. Wamu is toast. Should be JPM Chase by now but got a repreive with a cash infusion this spring from a private equity group. As for the BUD comment.. they have trouble of their own as they are facing a merger with InBev ( yet another foreign company) Oh an a final note: IMB ( IndyMac) will not be a $100 stock by years end and neither will CFC ( Countrywide). Please BO peeps learn to give up the ghost sooner on these companies when you invest! |
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loancloser1342
462 Posts |
Posted - 05/28/2008 : 07:49:19 AM
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quote:
Originally posted by 1stintegritymortgage
if you're really going to buy a financial stock, you should get JPM. they have a decent dividend and are one of the best managed companies out there. their losses are minimal and even with the bear stearns deal they will come out on top when its all said and done. WaMu may get bought out but their problems wont be over until those POA's recast in 2010. i would say they are in as much trouble as CW. over inflating those appraisals hasnt taken full affect yet. think about what they did. that will only make their losses even greater than what they should be. the worst for them has yet to come.
What makes you think neg am's won't be recasting until 2010? Nearly all were done in 2005 through early 2007 with a 115% cap, meaning they will all be recasting now through mid-2009. |
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ppulatie
2259 Posts |
Posted - 05/28/2008 : 08:03:44 AM
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You should check out JPM's level 2 and 3 numbers. They are simply unbelievable. It is these numbers that will take them down as well.
quote:
Originally posted by 1stintegritymortgage
if you're really going to buy a financial stock, you should get JPM. they have a decent dividend and are one of the best managed companies out there. their losses are minimal and even with the bear stearns deal they will come out on top when its all said and done. WaMu may get bought out but their problems wont be over until those POA's recast in 2010. i would say they are in as much trouble as CW. over inflating those appraisals hasnt taken full affect yet. think about what they did. that will only make their losses even greater than what they should be. the worst for them has yet to come.
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