Comments on: It’s Been a Bad Year For Bank Shareholders!

By: Ryan

Ryan — Wed, 28 Nov 2007 23:51:09 +0000

You’ll have to talk to their management to see if it’s a good buy. Buffett doesn’t just buy beaten down stocks, he seeks out beaten down companies with solid business and good management.

From IMB’s website: “Today Indymac announced its third quarter results. In a nutshell, we reported a loss of $202.7 million, or $2.77 per share. ” Oops. They say it so casually, I feel like they may have just misplaced the $200M when they got home, put down the car keys, and pet the dog.

To be fair, they’ve given me great rates on CD’s and their branch offices always have free coffee!

By: Paul

Paul — Wed, 28 Nov 2007 15:32:43 +0000

So is IndyMac (IMB) a great bargain now (for example, it fits Buffett buying criteria quite well) or is it headed down the toilet? I’m still buying but I could be mistaken.

By: Ed

Ed — Wed, 28 Nov 2007 05:28:49 +0000

I agree, time to buy!

By: sam

sam — Tue, 27 Nov 2007 18:10:20 +0000

I hear you, JLP. My bank stocks and bank fund are in the toilet. It is depressing to see them drop. Fortunately, other stocks are doing well. Thank goodness for diversification.

By: js

js — Tue, 27 Nov 2007 18:04:36 +0000

Time to buy IYF…