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BB&T Corporation Message Board

  • ayscuew ayscuew Jul 24, 2008 7:19 AM Flag

    Interesting!

    Karen Finerman CNBC host on "Fast Money" has shorted BB&T shares. Her reason is that BB&T shares are up 35% over the past week. Karen is also a hedge fund manager. Her fund manages billions and they can definitely move share prices. I find it interesting that Karen has no fudamental reason for her short. I do believe that the hedge funds are largely responsible for taking BB&T to $18 (along with the bad banks). As long as we trade more than ten million shares per day I believe that the hedge funds are still in the game. They can take the shares anywhere they wish (nothing to do with fundamentals like profits and dividends).
    On a positive note, the Motley Fools mentioned us favorably yesterday.

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    • What fundamentals? I laugh at people talking about banks and comparing them to other banks balance sheets or fundamentals. First of all many are pretty much all close to being insolvent, if standard accounting rules were applied. The majority of loan loss reserves are no way adequate. They have moved out loans that are non-performing from 120 to 180 days before throwing them in that category. They are selling off their good assets to offset their losses. Finally, what do they have for business that is left when sub prime and lending in general were their biggest revenue producers. BBT has far to much in commercial and residential loans in a terrible part of the country to not be heavily effected. I do believe they will survive, but you will see $15 before $30 that's also a given.

    • could have been that Finerman thinks BBT is a more reliable trade and nothing else.
      however, I will put this out there since no one else in this string has. WFC, BAC, and BBT have recently set themselves up for either HERO or ZERO by raising divvy or announcing share buyback. with the accounting trick WFC just pulled (switching from 4 to 6 months before writing off 2nd mortgages) and CFC possible failure, investors need to be very careful. they are doubling down in a horrible market to raise capital.

      I personally feel wachovia is a short to zero candidate simply based on how long it took them to stop writing neg am loans. that shows the worst decision making I've seen in a while. everyone else quits, so what do I do, I know, I advertise because everyone else is wrong! However, WB is no longer a safe short b/c they gutted the dividend. they just told everyone to pay attention and shut up. New ballgame, starting right now.

      so to go back to why I'm rambling, Finerman may have decided BBT is living in fantasy land by raising the divvy when no more cash is available to the banks at decent rates...oh, and they raised dividend while profits were falling. not smart.

    • Actually, I have had requests to stop doing that from other posters who say they have no interest in my trades. You have my projected entry point for any major trade so live with that.

    • I tell you what - you stick to commenting on what you can support with actual data and sources instead of theories of conspiracy and things for which you can provide no factual support and I will be glad to not comment.

      You spout conspiracy theories without references or supporting verifable data and I will challenge it every time. In other word knock off the BS and you will not have me commenting.

      As to my trades and posting about them - I do two things - I post where I think the trade is and then if I make the trade I post that information. This avoids "trolls" claiming I "retro" trade (after the fact) and that I am being truthful about my costs and/or gains.

      It has been my experience if you do not do this then the "trolls" are constantly calling you a liar (spoor gets that trash talk all the time in case you have not noticed). But, I invite you to feel free to skip all such posts since they do not interest you (in other words no one is holding a gun to your head).

    • You better not believe everything you see or hear on TV because Hank Paulson said its $25 billion to bail out FNM/FRE and it looks like $800 billion. LMAO

    • ays I hope you dont believe everything you hear on tv anymore than you do in here

    • three
      Appreciate that information. Better than Finerman just saying that the stock is up 35%.
      inlet
      I am interested in what happens to BB&T. I AM NOT interested in your trades in BB&T.
      On another subject. It was stated several times by several people on CNBC today that "they are shorting the financials again". Lot better than hearing that the investors are selling.
      Tell you what inlet I promise not to comment again when you tell us about your trades if you will not comment on my input.

    • Please post your source for the claim she is short 25 million shares.

    • she just said it again on CNBC to Dillon Radigan saying that BBTs exposure to residential and commercial has not reached the end as yet...

      3:45 PM on 7/24/08

    • Inlet, try announcing your trades ahead of time so we can check the veracity of your pronouncements. Anyone can say they made money off the stock movement after the fact.

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BBT
37.91+0.09(+0.24%)Jul 25 4:03 PMEDT

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