OMFG…
Exactly what we need, another total wipeout of shareholder wealth. I can’t imagine debt holders getting out of this without getting pounded as well. I really hope our shop doesn’t have too much exposure.
Wasn’t someone talking about buying WAMU a few days back? Hope he didnt gamble too much.
“I really hope our shop doesn’t have too much exposure.” Do you work for Legg Mason. Yet another one of Bill Miller’s value plays.
Good thing it’s on the no short list.
louisvillegrad Wrote: ------------------------------------------------------- > Wasn’t someone talking about buying WAMU a few > days back? Hope he didnt gamble too much. That was jimjohn who I doubt took a flyer on this. He seems like a young guy trying to learn whatever he can here.
thanks for the concern guys. joey is right, i didnt end up buying. i never traded before, just recently opened a trading account and was thinking about which stocks to go for. but i took everyones advice not to buy WAMU.
Ummm…is there a DOUBLE short on the US Dollar? Willy
jimjohn: Might be better to stay out until things settle down because under current conditions, you investment can evaporate overnight (BSC, FNM, FRE, LEH… oh wait, I’m just listing Bill Miller’s recent bets…) gremlin: not @ legg mason, and I’m thanking my lucky stars we have no WM paper since we already took a hit when leh tanked.
Things are going to come to a head pretty quickly. At this rate we’ll see another big one fail within the next week. WB? It’s funny that history keeps repeating itself. J.P. Morgan must be having a great time watching his company swallow up all of these banks at bargain basement prices.
You could buy UDN, but it’s only a 1x short ETF, so you wouldn’t be a BSD putting on that trade.
WillyR Wrote: ------------------------------------------------------- > Ummm…is there a DOUBLE short on the US Dollar? > > Willy URR is double long Euro, thus double short USD. however, per ML’s Rosenberg note this AM, Europe isn’t the best place to hide.
WillyR Wrote: ------------------------------------------------------- > Ummm…is there a DOUBLE short on the US Dollar? > > Willy URR is double long Euro, thus double short USD. however, per ML’s Rosenberg note this AM, Europe isn’t the best place to hide.