Bank America announced today the write off of $3 billion for bad debt reserve. Their stock is up $1 right now. BB&T has written down nothing (and probably will not in the future). Our stock is up 60 cents. Can you figure?
Several years ago, I started looking at this board only because I came into the ownership of what to me was a fairly significant amount of BBT stock. Most serious investors learned early on that reliance only on information put out by the Company was probably not the only thing that an investor should rely on. In any event, you look at info from all sources, including yahoo message boards. Over time, at least on this board, you can pick up information that is sometimes timely, sometimes useful and sometimes not easily available.
I must say that over the past several years, I have on occasion received useful information by looking in on this board. The downside is that you sort of have to recognize going in that stupid people (stillstupid in this case) migrate to these types of venue for conversation and apparently company. I would expect that they are typically very lonely people. In still's case, probably just stupid.
The point is stillstupid, that the whole idea is to share and receive information and if you can save time in the process to do so.
Summarily, to those who intelligently post useful information, thanks, even those who have an obvious (not obnoxious) bias to BBT. It's always good to hear intelligent points of view from both sides.
So, stillstupid, that's about all I 've got for the rest of the day.
Have you considered the fact that maybe the market doesn't believe JA when he states that there are no write downs coming? From what another has posted on this board BBT's write down for bad loans per JA is increasing in the possible range of a 50% increase in loan loss provisions in the 4th quarter verus the first three quarters of this year.
The overall market has a very good history of getting things right on specific stocks so the market must thing something is wrong. It might be that the market does not see any or much earnings growth. Check out the earnings growth the last 4 years or so. What has changed that would now indicate any great growth in earnings?
Kinda like the market didn't get it right on the mortgage industry until the last gasp, is that what you mean? What has changed is the biggies were poorly managed, can you say resigned, fired, and BBandT positioned as well as possible for the future, thus their top 5 ranking over the last years in that category. When the market things, I think, how about you?
Foreclosures Spike in California, Florida
Posted: Wednesday 11/14/07 07:38 AM EST
An analysis of the nation's largest 100 metropolitan areas shows that seven cities in California and five each in Florida and Ohio are among those with the highest foreclosure rates. Read more to find out where homeowners are hurting most.
Care to list the major banks located in those areas?
They have competent management without JA's culture. Even with charge-offs there is potential for future earnings where as JA can't not produce earnings growth or shareholder value. Yes Still JA is still at helm and no moe Shareholders are STILL screwed,
How comfortable are you that there will be no write downs. Recent posters have at least left some degree of doubt.
Also, is JA talking again this afternoon somewhere? If you know, would appreciate response.