My statements were concerning my personal situation which as stated before is far too high a percentage of my net worth in this stock. I wish to diversify, so the best case scenario FOR ME is for BBK to be acquired at today's multiples before market forces bring sanity back to the sector. The difference between me and you is that I would not remain in the acquired bank's stock in any meaningful way. Call this selfishness if you will.
Now with that said, let me say that I believe an independent BBK should do as well as the best banks. As you say, it is well run and in the best of markets. My concern on an ongoing basis would be the overall direction of the banking sector. Please respond and let me know if you agree that you and I can have different "best case" scenarios.
Your very smart to diversify your holdings. This little down turn has really shaken the bushes out of some of the sectors (including banking) and has made some people uneasy. You gotta sleep at night
If I was younger, maybe that would be my best case scenario. But you know what Readum? If you sell after a buyout, you gotta pay those crummy taxes on your gains (unless 401K right???). Kind of lowers your return right off the bat. I keep hoping they will drop capital gains further, thats why I hold, heheh.
Check out the CF board. Those shareholders are not happy with the buyout by STI. It doesn't seem like a good match I am afraid.
Doc: I have read with interest the comments on BBK etc, I just became a stockhold by MSBC merger. I have known this bank for more than 40 years, I think they will be successfull in whatever they do. There is a lot of postings on CF expressing concerns, but I have known STI for a long time too, and they haven't made many mistakes that I know of. Since I am heavy into CF, I look forward to
traveling a long way with STI. I will vote my shares for the CF/ STI merger and we will just have to count the votes at the end of the day with those who don't think it is a good deal.