Norm Lasky's expertise in finance and banking is unsurpassed - and he has the credentials to prove it. Norm has been posting on various message boards for at lest the past sixteen years. I have followed his posts on numerous boards and I can attest to the fact that his interest is mainly helping others that have less knowledge and experience. It is pitiful that many individuals that post on these message boards fail to understand his intentions. How he continues to have the patience to inform and teach others - many of whom are impolite and obnoxious - is beyond my understanding. It does attest, however, to Norm's unusually high standard of personal conduct. He is a rare individual indeed.
For those of you that are mean and obnoxious in your posting, I have only one wish - that you short the devil out of BB&T stock.
Norm has a bad habit of dismissing anyone or any source that disagrees with him (his view) as wrong and the disses the messenger.
I am the first to admit I am not always right and use as many sources as I can find (if I find them to have a decent record). Are these sources always right? of course they aren't - it does not mean the sources are useless. In the end it is up to you to evaluate and decide based on the information before you.
What I do know is Norm has been positive without fail on BBT for a long period while I have been positive at times and negative at times and that I have made some very good returns trading BBT from both the long and short side over the past 3 years. You can get lost in the numbers of an individual stock and miss the big pictire IMO.
In short I find Norm's inflexible view of little use in trading this stock. Now he claims things are just fine - well, I am here to tell you economic #s (employment?) have been so-so at best. The world Marcro view seems very iffy (China, Europe). QE (Twist, LTRO) seems set to be quiet for a while so there will not be the liquidity we have seen since last fall to push equities higher... Just a thought for you consideration - BBT does not exist in a vacuum.
I agree with your contention that you can make considerable profits trading BB&T; however, the trend of the economy is up despite Republican Party efforts to restrain it. If the Democrats retain the Presidency, the economy will continue to improve, and most stocks will continue to move up slowly - especially BB&T, which is the best positioned regional bank. If the Republican Party wins the Presidential election and both houses of Congress - they will highly favor regulations that are very supportive to bank profits. So whether it be heads or tails - BB&T is going to be a big winner in the long run.
Incidently, Norm has traded BB&T stock very profitably even though he retains a significant core holding.
I don't have any problem with individuals that are bears or bulls. My problem is only with individuals that act inappropriately.
Actually I am not sure that the comparison will prove if Norm has been of benefit or not. I have taken him to task several times for making the same mistake in his estimates. He repeatedly overestimated the bank's ability/willingness to "write in" income based on overstated reserves for loan losses.
However, I found the rest of his estimates and opinions quite valuable. He chose to play calls at a 20 strike but I took his info and confidently sold puts at 23 and 24.
Money in the bank.
I agree with the notion that one could go back and read prior postings to determine whether a poster knows what is going on. Norm's estimates have been high but his insight into an enterprise that was clearly a good investment 18 months ago was valuable.
Gosh, I feel like I'm on probation.
Sorry that I was unable to forecast the adc loss severity rate at 85%.
Sorry that I refused to buy into ecri assertion that the United States was in recession in the 4th qtr of 2011.
Sorry that I did not go along with nobankerplease comments about how bad things are in the banking industry by providing fed bank data which contradicts his opinions.
I'm going on vacation. You folks can do your own due diligence. You're fortunate that bbt investor relations provides nice quarterly updates on their websites. Good luck!
Have a great vacation. I don't blame you for leaving the jealous morons on this board who can't handle people listening to you and not them.
They don't understand that the value of the board is to share differeing views and opinions - and letting readers weigh all of it to reach their own conclusions.
I'm sure you are appreciated by many more than not. Thankds again for your contribution.
You mean we a##holes who know more than you? Jealously is not a healthy thing. I won't call you that name, but what I will say is that if you are long this stock, have been for some time, and bought into the hype that everyone else is wrong, then more power to you. Some day you may be proven correct (but have not been for the last 15 or so years, regardless of Norm's, Stil's et al's valiant attempts to cut and paste data they find on the internet to support their thesis). And if proven correct, you may still need to account for years (or decades) of opportunity cost in owning this stock. You have a long way to go to cover a bad investment, good luck. Now if you want to trade this stock, that is another matter entirely, then we may have something to logically talk about.
I first started watching this stock some three years ago. I was really new to investing and Norm's post were the most balanced and informative. I found that I to would seek out his posts then and I still do. I doubt many people pay attention to the bashing posts that are on this and many other boards. They are a pain and they have kept from reading message boards because of all the rash you have to sift through. Norm proided good advice and I actually made a few dollars selling before the run up from low 20's to low 30's. I think I sold about 26 or 28 a few years ago. I have started buying this stock again in the last 6 months taking small buys on a regular basis. Thanks Norm, I have learned a lot.. made a 30% return on my folio last yea which is great to me.
I'm sorry you misrepresent what ECRI forecast.
They DID NOT forecast a recession in the 4th qtr of 2011. As I have pointed out (corrected your false assertion) multiple times - The ECRI forcast is about the future (avg 6 months in the furure) not the present.
Try and learn the difference between a conincident indicator and a future indicator.