Short term thinking in my opinion. BBT didn't play ball and reduce their loan loss provision. They said they were positioning themselves with more asset sales in case of worsing economy. Thus, investors didn't see any short term upside. This makes BB&T a safer bank to own for preferred stock holders and will do better if economy worsens next year. I will be looking to take a common holding if it drops to low 20s.
>>BTW, in my view most of the "pundits" are even more psychotic than the market. <<
Can't disagree with you there. BTW, there was a guy here posting about 18 months ago or so that had a moniker resembling a boat or something. Can't remember for sure (getting old I guess), but he was pretty knowledgable (at the time). Is he still around, or has his head exploded?