I added a half position in Goldman Sachs today and in the 140’s would add more.
Buying the best financials when guys like me are making fun of them has always been the right thing to do.
Goldman is like Danny Ainge. You hate them until they are on your team. Down 30 plus percent from it’s all time high and completely undressed and mocked a better long-term financial brand is hard to find, save American Express.
Disclosure – Long Amex and GS
You’re stepping into a mine field…
Chris…As I always say, you buy great brands when their is major uncertainty, especially brokers who have a zillion revenue streams and huge salesforces to sell the new shit they will create to replace the old shit.
Howard – I’m thinking it’s time to dabble with the best financials too. What do you think of Citigroup vs GS?
Both Citi and GS will feel more pain. Is this really the time to get in Howard?
But I agree with the overall outlook…for those with cash this is a great time. I have been enjoying this dive since I was not exposed too heavily.
Larry Kudlow is a fool! Now he is screaming for fed intervention.
a conservative financial strategy here for those who wish…
u buy BAC common here @ 49.5’ish and write the SEP 50 calls for 3% or so. they go ex sep 5 and pay u huge div of 1.3+%.
if they call u, u made a buck pre e date. if they dont, u own the stock at