Just because you've been in UMPQ for forty years doesn't make it an investment for the next forty. It will take years for UMPQ to recover from this and there may be much better opportunities for investment than UMPQ during that period. Long term is correct, but not at the expense of smart investing.
I would also take great exception to your statment that their troubls will be behind them in 2008. And, I think you're absolutely wrong that they won't cut dividends. Remember the regulators have enormous power and they will be telling Ray Davis what to do, not the other way around.
Hello Pencil: Below are net income numbers for the years ending 2007, 2006, 2005. They are all PROFITABLE years. Year 2007 was not a great year; income was down more than 30 percent primarily due to bracing reserves, however, it was not too bad for an expanding business during national difficult times brought about by Congress and the 2 percent Fed.
Emotion and short selling is always a factor in the Market . . . it's not for everyone. One thing. Eventually the Market for UMPQ will improve ! Be there for the ride up! pv
2007 2006 2005 Net income $63,268 $ 84,447 $ 69,735 Merger-related expenses, net of tax 1,991 2,864 157
Operating income $65,259 $ 87,311 $ 69,892
Per diluted share: Net income $ 1.05 $ 1.59 $ 1.55 Merger-related expenses, net of tax 0.03 0.06 -
Yes, my friend,we hold equity in UMPQ. Other than that, what is the relevance of your question?
These are dangerous, perlous economic times enabled by our Congress and the President during 1999. However, it serves no one to degrade a successful business enterprise that has been growing for more than 50 years.
UMPQ is making money; it's a profitable banking business operated by respectable people who have in-depth experience.
If the stock market was without challenge and emotion, everyone would participate and prosper,I should think. . . Good wishes and good luck ! pv