If you want an investment that goes in only one
direction, buy CDS, treasuries, or money market funds. If
you want to get rich, turn off your realtime quotes
and give this stock five years. Some of us already
know the power of BBT. Some of you will learn. Others
will be too stupid to find out.
Yes...if you are not well informed, don't
understand investing, and are unable to do simple top down
analysis...buy and hold is the key to mediocre returns. Better
yet...buy an index fund and tune out of the market,
economy, and any fundamental analysis
Fundamentals of the market are changing. The banking industry
is changing, it will be far different in the future,
and a reliance on what has happened in the past is
simply an excuse for not understanding the market or the
I'm not sure what the future holds, where
the earnings growth will come from, how multiples
will shift, and whether the tremendous fundamental
benefits of being a southeastern regional bank will
continue. I really don't think this (or any bank) is the
greatest growth opportunity available to investors.
I hold a little BB&T percentage wise......certainly
my worst performer this year by a long shot.
I think the stupid ones are the ones with their
eyes closed, the ones who don't understand why they
own a stock, and those with 20/20 hindsight. They of
course will never find out:-)
Thanks for the great posts. You are correct. Now is the time for investors to rethink their positions on bank stocks. Not necessarily sell........but, rethink.
Contrary to your insinuation, I know this
industry and particularly this bank. I could throw a dart
at the most active NASD stocks today and probably
out perform BBT by the end of the week. Could I do it
next week, next month, next year? I doubt it. We are
seeing an exceptional period with tech stocks right now.
Hope you are making a killing. This gravy train could
end at 9:30 this morning with one negative comment by
the right person. Downside on these stocks is 50-75%.
Downside on BBT over the next year is approaching zero.
Please do not try to tell me how to invest my retirement
fund. You do not know where I have been or where I am
going. Good luck to you.
....in reverse this year! I don't disagree that
the stock market is a crap shoot. Your advice is
sound in that regard. However, I don't think it
unreasonable to gripe about a 25% decline this year. That
"sucks" as my nephew says, in any type of investment. The
continued buying of small, non discript, rural banks may
fit your idea of a good move (and don't get me
started on Matewan again!), but it is not at all
unreasonable as shareholders to expect that these moves at
least keep us headed side ways, not down! If I thought
that BBT had the potential of erasing the 1999 deficit
in 2000 and giving me a good return on top of it - I
would feel a heck of a lot better than I do now. Do you
think the banks they bought this year offer that type
of potential pop? I don't think so! IMHO of
Do you really expect a 30+% increase in 2000 and
why? I think that is the only way I will match my CD
investments for 1999 and 2000.
Come on readum, you
gotta admit that a fall this low is not easily made up
and usually not quickly - unless they will change to
As you know, I respect the people, their plan, etc.,
but maybe I need to move to the sidelines on this
stock for a while and try to catch something that will
replace the loss I have incurred. I will continue to
repect them, but from afar. I understand dollar
averaging, but that's not active investing. I am an active
investor and I believe there could be a better alternative
I'm now inspired to
Nuff said (from me
Always enjoy your insight. (You have been at
FDLNA also, right?) I guess its just a matter of time
frame. Of course the decline has hurt my feelings and
net worth ( alot more than most I guarantee you). But
history is the ONLY thing we really have to hold on to.
I'm not a particularly adept stock picker, so I'll
just let my retirement funds ride with John and the
boys. If you need to move on, move on. The stock could
easily do 30% next year. It could also be at $35 next
year. If so, I bought a bunch more cheap shares with
to me to say "Double up makes sense when loss is
across the board, but when individual stock is down in
face of broad strength - maybe we shouldn't try to
fight the tape ..." as you did in your post. There
isn't broad strength: most stocks are down for the
year, the rise in the big indices comes from a big
handful of outperformers, while decliners continue to
lead advancers ... especially banks across the board
are down. So, by selling now you would be fighting
the tape: selling at a time of weakness in the
broader market and in the specific sector. Doubling up on
finance stocks does make sense now ... IMHO.
Your 12K is about 33% of what I lost today.
However you do not see those of us that have held BBT for
a long time making smart remarks about BB&T such as
your last post. Personally I wish I had the cash
available to buy Monday morning. Is it possible you would
be happier with another message board?
Hangon buddy. If you beat the market and see 20%
a year for the next 2 years you will have a 3 year
return of 0% Happy retirement!
No on is telling
you how to invest your retirement funds...and I know
a lot about this bank, and the banking industry. Of
course...I have seen a lot of anger and resentment on these
boards when people are losing a lot of money. If that is
the case with you I am sorry. Hope you're