MIFI has been descending a nickel here, a dime there and now we're talking about real money. I get some of you invested in this stock lower than the current price but recent trading has been decidedly negative. Maybe this is the pause that refreshes but I have my doubts. Time will tell.
I bought. Fed way overboard with crazy scenarios testing. Money center banks hamstrung by Fed choking off economic activity. Hopefully we are at an extreme and Fed will return to more rational means of regulating banks.but that won't happen for years. In the meantime, DB, C are way undervalued vs. tangible book value.
Interesting debate on this board. I have to say that Mr. Market does not agree with the bullish view of most on this board. At the end of the day the only thing that really matters is the market and the market price is what it is whether you agree with it or not.
The issue is DB has been sloppy in past reporting to the Fed acting as if they didn't take the process seriously. The Fed will make an example of DB and probably SAN to whip them into shape and make sure they are compliant. If the shares sell off after the March 11 CCAR results are out I will buy.
August, I understand your point of view. Just because somebody writes a negative piece though doesn't mean the evil short sellers don't make good points. My hands might be "weak" but I have $.40 per share more than I would have had if I held on two days ago. I am grateful that there were "strong" hands out there to buy my shares. Anyway, Mr. Market will tell us if the MIFI turnaround story is too good to be true or not. I hope you do well with MIFI. It's just not for me. Good luck.
You don't have to make your money back in the same stock. Just sell and put it in something else with more upside potential like DB.
SAN had yesterday as a head start reacting to the news. SAN.MC was halted news pending so it had to catch up today. Madrid might have been trading but SAN was halted Thursday afternoon and reopened Friday morning.
People like you are the reason institutional investors and hedge funds are able to buy the stock so cheaply. 46% of SAN's shareholders are just like you. When the dust settles CEO will have turned over her shareholders base and put the vast majority in the hands of professional investors. Another good thing for long term investors.
She made the hard decisions her old man and his cronies wouldn't make. She shook up management, brought in independent directors, stopped the excessive script dividend, and raised needed capital. Good for her.
46% of SAN investors are retail people who bought for the dividend. They are probably selling in mass. That means the shares are moving from weak to stronger hands. Institutional investors are buying at these levels while the little guys sell. That's good longer term. Once the dust settles SAN will do fine.
Offering will be done overnight. Pricing expected to be $7.30 to $7.67. We'll see in the morning. Market is quick to sniff these things out so today's close probably spot on. Participants in this kind of offering tend not to overpay so the stock could pop a bit tomorrow if offering goes off okay and pricing is in the range expected. Once done expect SAN to stabilize then we'll see what happens end of month in Eurozone and Greece. Nobody really knows but most not optimistic. What if something actually goes right in Europe?
Now that the dividend cut and offering are known to the market it will be interesting to see if SAN is a falling knife with further to go on the downside or this is the capitulation and washout. My guess is that I don't know but think SAN is doing the right thing. Everybody knew the dividend had to but cut. Not sure all knew about the offering but it's out there now. Tomorrow will be interesting.