Nuttier Than a Stuckey's Pecan Log Roll
To that end, he suggested buying American Express (AXP: 32.14, -3.20, -9.0%) , Capital One Financial (COF: 46.78, -4.64, -9.0%) and Discover Financial Services (DFS: 12.96, -0.82, -5.9%) , noting that of the three he is the most optimistic about the fortunes of American Express.
Oh what a difference a week makes. Here's an update on those falling prices.
AXP: 24.00, -25.3%
COF: 33.41, -28.6%
DFS: 9.63, -25.7%
That's in addition to the drop on that first day.
Anyone who recommends buying stock in a credit card company in this environment is nuttier than a Stuckey's pecan log roll. - TokyoPlumber
Stag,
ReplyDeleteA poster named Tokyo Plumber talking about the credit crisis, stocks, and Stuckeys is just beyond belief.
It's even more unbelievable than having thousands of bankers lend trillions of dollars to millions of people that had no means of paying the money back.
Even more unbelievable than the inability of the auto and airline industries to earn profits.
Even more unbelievable than the the concept of people getting poorer despite the fact that they are repeatedly showered with more and more money.
Even more unbelievable than the Cubs's never ending losing streak.
Even more unbelievable than the fact that Cramer still has an audience.
Even more unbelievable than the fact that the U.S. Fed completely missed the largest and most fraudulent credit expansion in history.
I will say that Japan is indeed a wealthy, industialized country. Everyone in Japan has millions. Unfortunately, they all OWE billions. Let's hope we're not so fortunate.
MAB,
ReplyDeleteIt's even more unbelievable...
It's downright inconceivable! We're sliding down the cliffs of insanity, battling credit of unusual size, facing margin calls in the pit of despair.
Scaling the Cliffs of Insanity, Battling Rodents of Unusual Size, Facing torture in the Pit of Despair. - True love has never been a snap. - Tagline, Princess Bride, 1987