Countrywide

[Daveduvos]

I could not find anything about CFC on the forum. What are the thoughts of the forum on when this will be a buy, I am thinking in about 6 months, Do you think it will go lower, I know as soon as housing turns around it will tribal or more.
Your (forum's) thoughts.

[mrmarket]

I could not find anything about CFC on the forum. What are the thoughts of the forum on when this will be a buy, I am thinking in about 6 months, Do you think it will go lower, I know as soon as housing turns around it will tribal or more.
Your (forum's) thoughts.

I thought the same thing with NFI....it's risky dude.

[billyjoe]

dave,
There are plenty of downtrodden financials now. Why not buy one that's actually making money such as WTNY or HCBK. When the recovery comes wouldn't you think a profitable business will appreciate faster than CFC? It's dragging too much baggage.

------------billyjoe

[Daveduvos]

I thought the same thing with NFI....it's risky dude.

What is the NFI?

[IIC]

The only way I can see CFC making much of a move is when the Buyout Announcement comes...Remember who told 'ya...Actually, I posted that a ways back...IMO it will be Bank of America...But then again maybe they will break the whole thing up???...Doug(IIC)

[IIC]

The only way I can see CFC making much of a move is when the Buyout Announcement comes...Remember who told 'ya...Actually, I posted that a ways back...IMO it will be Bank of America...But then again maybe they will break the whole thing up???...Doug(IIC)

Of course, that's if there is anything left to buy

[Peter Hansen]

Cd Rates Are High

Would U put money into a Countrywide CD at 5.4% for 6 months .and what happens if they do go Belly Up .....FDIC should cover U ? Friend of mine just put in 300K ? under different combos to get the FDIC Insurance .

[IIC]

Would U put money into a Countrywide CD at 5.4% for 6 months .and what happens if they do go Belly Up .....FDIC should cover U ? Friend of mine just put in 300K ? under different combos to get the FDIC Insurance .

I'm not positive about this...But although the principal is covered up to the limits I don't think the accrued interest is???

EDIT: Just checked...Guess I am wrong. However, I do remember that my Granny had a CD in a failed institution many years ago...She got all her money back but if my memory serves me correct it took about 6 months to get it.

[Peter Hansen]

IIC Thanx

Thank you for your reply....yes from what I read even if the bank goes belly up ...you will get your money back....and of course .....who finally suffers the pain from the FDIC payouts .....of course YOU the tax payer. It is actually wise to look for near bankrupt banks paying the highest rates .bottom line who cares ... if that throws you over the 100K ..but simply put in less like 97k and that will avoid the over 100K problem ..and I guess you will be losing interest while wating for the FDIC to process return of YOUR money.
For further information go to www.bankrate.com

[mrmarket]

There will come a day when all this ruin will come to an end...whatever companies are left are going to be HUGE bargains. Once recovery happens, it will most likely get stronger.

Wait until the bottom is over. Let these stocks run up about 30% for confirmation and have 2 quarters of profits, then jump in because there will certainly be at least another 100% more on the upside.

Mark my words..I said it here.

[IIC]

The only way I can see CFC making much of a move is when the Buyout Announcement comes...Remember who told 'ya...Actually, I posted that a ways back...IMO it will be Bank of America...But then again maybe they will break the whole thing up???...Doug(IIC)

Who called it???

WSJ: Bank Of Amer In Advanced Talks To Buy Countrywide

[altria89]

There will come a day when all this ruin will come to an end...whatever companies are left are going to be HUGE bargains. Once recovery happens, it will most likely get stronger.

Wait until the bottom is over. Let these stocks run up about 30% for confirmation and have 2 quarters of profits, then jump in because there will certainly be at least another 100% more on the upside.

Mark my words..I said it here.

mrmarket and all what do you guys think of Citigroup? I got in at 30 now it went under 27 earlier this week finished today at 28.11. I was under the presumption they will cut dividends and maybe I can buy more at 25. Or would you just jump in now and wait long term? What other financial companies do you guys like as buys in the next 4-8 months?

[altria89]

Also CFC, would you hold on, if bought today, until this merger/buyout is official or did it top out today?

[IIC]

mrmarket and all what do you guys think of Citigroup? I got in at 30 now it went under 27 earlier this week finished today at 28.11. I was under the presumption they will cut dividends and maybe I can buy more at 25. Or would you just jump in now and wait long term? What other financial companies do you guys like as buys in the next 4-8 months?

Personally...except for a day trade I wouldn't touch a financial co. now...I've said this before...the worst is yet to come...Best, Doug(IIC)

[jiesen]

Who called it???

WSJ: Bank Of Amer In Advanced Talks To Buy Countrywide

that you did, Doug... that you did. Very nice call.