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Denbury Resources Inc. Message Board

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  • The fear reading seems pretty high. Just listened to a guy on Fast Money, would go long the banks and short the brokers. Mentioned long WB and C, short Goldman. He's using relative book values for justification but book values have been somewhat uncertain. The writeoffs originally were going to be $100 billion and now it could be a trillion. The panel agreed, with a stop at 52 week lows. I didn't think the January one was the last but I think we may be there. Although Buffet today in his interview said everyone expects a short and shallow dip but he is not so sure. We have $20 trillion in residential real estate and $11 billion in mortages, 55% LTV which seems like a fairly good cushion. I would buy them because I am thoroughly disgusted, 9+, with them at this point. But it takes a leap of faith, trying to analyze it won't get you there. The WB CEO said just a few weeks ago that the dividend was safe and the GE experience scared everyone. I did buy a community bank last week that is selling at less than 120% of tangible book value but the exposure to real estate there as in the money center banks, and the money centers also have consumer risk as well. C, selling a book value and 2 x tangible, still remains my favorite with 2 trillion in assets and $130 billion in market value, already lost $160 billion, with a great global exposure, where everyone wants to be for the future.

3.55-0.09(-2.47%)Nov 27 1:01 PMEST