BSC

Anyone ready to take this pick for a ride?

_Q_ Wrote: ------------------------------------------------------- > Anyone ready to take this pick for a ride? Man I was thinking the same thing and was going to post about it. I don’t think it’s too early to start building a position in it. I think it’s destined to go lower but will prob go a little higher first b/c of the recent drastic declines this week. One of my favorite quotes from Warren Buffett: “If you don’t feel comfortable owning something for 10 years, then don’t own it for 10 minutes.” I’m not a day trader and wouldn’t worry about building positions in GS and BS even as they go lower…with that being said though, I’m going to wait on building those positions…

“we don’t have liquidity issues”. hmm… only took 2 days to retract that. you want to go long this doggie? someone probably will buy them out eventually- looks like JPM right now is coming to their aid a bit. we’ll see, but i definitely wouldn’t be adding this to my portfolio right now.

look at it go! double-you-tee-eff!

This MUST be a mistake. Didn’t they read S&P’s report yesterday?

some liked this at 100, then at 70, at 50. Hows 30 feel? Unless you have a confident assessment at int. value how can you convince yourself to grab this falling knife. (I think Joey initially used that phase and it is a perfect fit in this case so I am going to steal it. So there.) I love that even this week a dozen or so brokers had a median price target out there flirting w/ 100. sweet now its a 200+% mover… I guess it is a no-brainer then.

^ “trying to grab a falling knife” is not coined by JoeyD, I have used this phrase to describe my aversion to value investing well before i knew about this forum.

The way I see it, BSC’s book value would have to be 70% lower than what it was stated at last December for this valuation to make sense. Does anyone think that the fed would bail them out (ie LTCM) if BSC becomes insolvent?

I didn’t mean to imply he invented the phrase just that he previously used it to describe BSC. So I felt if I were to do the same, he should get a shout out. So be advised, should you continue to use this phrase in response to stocks falling faster than our governor, you will be required to forward $0.06 for each use. JD wire instructions to follow. P.S. does a reference to Spitzer now result in the deletion of this thread?

nm I just looked at the market

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i’m glad i put my money in dinosaur fossils and petrified wood instead of BSC shares.

I have been a huge bear on bear for a while, but even I’ll step back and say BSC at $30 is getting tempting.

McLeod81 Wrote: ------------------------------------------------------- > The way I see it, BSC’s book value would have to > be 70% lower than what it was stated at last > December for this valuation to make sense. Does > anyone think that the fed would bail them out (ie > LTCM) if BSC becomes insolvent? check your screens… http://biz.yahoo.com/ap/080314/bear_stearns.html

::pukes in his mouth a little::

Check out the recent price action and volume in BSC 30 Mar puts.

McLeod81 Wrote: ------------------------------------------------------- > The way I see it, BSC’s book value would have to > be 70% lower than what it was stated at last > December for this valuation to make sense. Does > anyone think that the fed would bail them out (ie > LTCM) if BSC becomes insolvent? Two words: Northern Rock Liquidity crisis -> solvency crisis. Bye Bye bank.

NakedPuts Wrote: ------------------------------------------------------- > Check out the recent price action and volume in > BSC 30 Mar puts. I saw that… I saw 36k traded this AM (on a delyed quote) before I saw the headline. Anybody look on BBerg to find out the trade time? I would call a buddy of mine to ask, but knowing him, he may have been on the wrong side this am–and if so, I’m steering clear…

More importantly, nearly 100,000 contracts traded last 4 days between .25 and .50. This morning only perhaps 5,000 traded below 2, big volume came in around 9:50 between $4.50-9(!)

When did the story break on bberg? I didn’t see anything until 10:30. If I was a layoff account, I would shoot the broker moving those things… It would take a lot of steak dinners and Wine Country Gift Baskets to make up for a fiasco like that…