I am laughing out loud
over you clever post. Creating the screen name was a
nice touch. You have a sharp wit and keen
intelligence. I applaud you.
On the other hand, I can
see suzie's point. Some people are turned off by the
vitriol that gets spewed out here sometimes. If suzie
(and others) choose not to post here, we are all
losers. For example, the respected Dr. Jun Jun withdrew
from this board for several months for this very
reason. We are the poorer for missing out on his sage
wisdom. If we could temper our self-expression with more
tact and civility, our board would likely attract more
posters. Both the content and tone of our board would
improve. After all, are we not ladies and
Thanks again for your great post.
Beta who? And I thought sector rotaion was what
my chiroprator did each week? And I thought a
co-varience was when something happened unexpectedly!
Honestly, blue, I'm not sure I derived everything you
wanted us to out of your post. Teach me.
way, Fan, good point about the sucess BBT has had
"inspite of" all the acquisitions. I really don't think
doing nothing would have been better for the stock
price, even if doing nothing would have resulted in BBT
getting bought. So, maybe i spoke to soon and buying
something else (which they will do for sure) is dilutive
technically, but a good decision in the not so long run.
Regards.......(and Regional was a lousy buy, no matter what the
timing!)(and I notced you didn't speak to
That would be under 65 or 70? Of course
diversifying....investing not day trading...into more volatile tech stocks
can lower the risk and increase the return of your
portfolio. Likewise the intelligent use of some derivatives
can do the same. Sector rotation can be an important
tool. Your $1.75 average may or may not have given you
reasonable annualized return. What is the beta of your
portfolio? Have you calculated the co-variance of returns of
some components of your portfolio? I know...slide
rules can do all the same things as calculators...just
a little slower.
Give us a break eh?
...I'll clarify that I didn't mean buy and
forget, also don't sell just because there hasn't been a
short term move. As you know, a company can have great
fundamentals yet not move in the short term due to extraneous
factors like interest rate moves in financial stocks. The
advice for young investors that I got from a smart "pro"
years ago was: buy high quality market segment leaders
with a track record, dollar average in over good times
and bad, join the DRP program, and patiently wait for
the bull markets to magnify your total returns. When
investing every month, of course you should assure that
your choices continue to be strong performers on
operating fundamentals and industry leaders.
violated that advice with IBM when I sold too soon for the
wrong reasons. Holding sound stocks when bull markets
hit is the way to look smart.
question of BB&T purchases - the key is buying the right
things (and Regional was a timing error). Remember that
BB&T's current EPS growth record was achieved during
it's most active merger period. The key, I think, is
sticking to the announced strategy which the market
understands. A departure from the strategy would be a problem,
but so far JAA has shown he knows what he's doing and
I too will be a long term holder.
I assume that all you published is correct and I
would agree with most if not all of it. However, if BBT
keeps buying, then its growth in price is likely (not
certainly) to remain lower than some of its less attractive
(on fundamentals) peers. Over the long run, I agree
that good purchases will begat good stock prices, but
this can be a dangerous game. I think Mr. A knows what
he's doing (we'll forgive him Regional Acceptance -
not sure yet about Matewan (at least he didn't pay
much for it))and I'm currently a long term holder of
this stock, but......
I don't think buy and put
it away for ever is necessarily good advice. IBM may
have been a winner over time, but many, many others
were not. You may not have to be a day trader (I'm
with you - let's play golf instead!), but if you are
in the market, you should always remain a "trader."
To me this means, once you buy it, check to see if
why you bought it still holds true. If not, consider
I don't really think you were suggesting that we
forget out investments, but some folks who read this
board and value your opinion maight have misunderstood.
Hope I didn't.
....and by the way, most of us seniors have left
our wilder days behind...but on to business. The
price change figures are from 12/30/97 to 9/30/99 as
indicated in the 2nd paragraph. The P/E, P/B comparison is
as of 9/30/99 and is based on American Banker
numbers, current price and trailing 4 qtrs. earnings. The
P/E numbers are: BB&T 17.7; CCB 11.6; First Union
10.1; NB 18.4; Wachovia 17.0; S&P bank index 12.5. The
price/book figures for the same date: BB&T 350%; CCB
First union 216%; Wachovia 293%; Clearly BB&T is
trading at a premium to the peer group (based on strong
earnings growth, good markets and market confidence in
management strategy) but price growth in any short term
period may not match that of lower P/E, P/B peers.
However over the long run consistent strong performance
is rewarded by the market - which is why I'd urge
looking not just at a week or a month but also look at 24
month trends or longer as well.
understand that I wasn't bragging about owning some shares
30 years. I was hoping younger investors might see
the wisdom of longer investment horizons and avoid
mistakes I made early in my investment career. 30 years
ago, I didn't understand this and bought IBM 3
different times and sold it after a year or so when nothing
happened. If I'd have bought and forgotten it, it would
have made me look a lot smarter. What I have since
learned from some bright investment professionals is that
the best strategy is to invest systematically in high
quality equities, use dividend reinvestment, and wait
patiently for the periodic bull markets to roll around and
make you look brilliant and rich.
play golf than day trade - had a hole-in-one last
month! sorry to be long-winded.
You make a good point.
HOWEVER, it you
truly believe that "more tact and civility" will
"likely attract more posters", then you haven't yet
reviewed the First Union - FTU - message board. Those
people post vulgarities and assorted junk with a
vengeance, and that board receives over 100, perhaps over
200, messages each day.
Thank you for your good
How about being down 10% year to date while the
market roars? Yes lets be polite and spew warm thoughts
about BB&T..oh yes...and lose money.....while
speculating on bizarre takoever rumours. BB&T is a decent
bank.....but like any company has limitations, strengths and
weaknesses. Let's be real here! Unfounded optimism and
positive thoughts are meaningless. For those looking for
peace and harmony...perhaps we can plan a meeting so we
can hold hands and hum positive mantra's.
the mean time...top down analysis is where its at!
The world economy, the national econmy, the regional
economy, the competition, the banks
management...Allison...who is below Allison, etc, etc, etc....
course we could listen to those who are influenced by
the apearance and dress of young trainees. That seems
to carry more weight hear than any real
Peace and Harmony to all:-(