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Buying a financial stock.

Started by ogm , Sep 29 2008 07:17 AM

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3 replies to this topic

#1 ogm

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Posted 29 September 2008 - 07:17 AM

AIB .. Allied Irish Banks. Very conservative bank, trading at big discount to book with good dividend so far. 11% dividend will be probably cut, but this is still a good bet, IMO. Small position.

Edited by ogm, 29 September 2008 - 07:22 AM.

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#2 skyymaster

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Posted 29 September 2008 - 07:28 AM

Is it small position because there is a lack of TRUST :lol:

http://wachovia.com/...0,,2066,00.html

However, look at the CEO's message on Friday. One would think they are sincere, LOL.
CEO MESSAGE

--------------------------------------------------------------------------------

September 26, 2008

Dear Wachovia Clients, Shareholders and Friends,

Financial markets and our industry are undergoing unprecedented change. We are watching these events carefully and must plan and remain flexible. Therefore, we are strategically protecting and managing liquidity and capital (yeah right) in this challenging environment.

Wachovia has many advantages: excellent service across our businesses, an exceptional retail franchise renowned for customer satisfaction, one of the largest brokerage platforms covering the affluent markets and expertise to meet the specialized needs of our many corporate customers.

Our core franchises are extremely valuable and continue to operate well (sure, whatever you say) relative to our competition.

We remain optimistic (for how long, weekend?) that our leadership in Washington will provide comfort to the markets with a plan to stabilize the housing and short-term funding markets. (Checks in the mail and the dog don't bite)

For years Wachovia has been a forward-thinking force to help fuel business growth, create and manage personal wealth and build strong communities. We intend to remain focused (on what, the rug is pulled and your finished in few days), continue serving customers like no other competitor and utilize our many skills and talents in order to protect the value of our franchise.

Thank you for your trust (that's the part that needs fixin) in Wachovia.

Sincerely,

Robert K. Steel
President and CEO

Edited by skyymaster, 29 September 2008 - 07:29 AM.

People should not be afraid of their governments. Governments should be afraid of their people.

Remember this day, men, for it will be yours for all time.