As you should know the banking industry has been taking some big hits this year, but me and sam were discussing buying some of citi(C) or jpmorgans(JPM) stock in the next couple of months because it seems like they will hit their lows soon and hopefully figure out how to redistribute their enormous assets in the future.
story about JPMorgan:
thought this was funny
also, keep an eye out for IndyMacBank(IMB)...this company was probably hit the hardest by the whole mortgage backed securities mess, but they seem to be on the way back up. Note: IMB is on the verge of bankruptcy and there's a lot of risk involved with this one (major litigation also), but if they hold up these next couple of years, the potential profit is ridiculous...
3 comments:
that's chase. chase will steal your shit. not jp.
to add on though, wait until the end of the 2nd quarter earnings AT LEAST. these stocks should be tanking even more. also, word on the Street is Lehman (LEH) might be bought out by barclays very much like bear sterns and jpmc.
if you didn't know already, IMB got owned on friday...damn...i lost like 300 bucks...no more penny stocks for me...lesson learned.
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