Black Monday Markets

[dalakhani]

Originally Posted by CSC

Buffett bought 10% of Goldman Sachs last week, what's the saying be fearful when others are greedy and be greedy when others are fearful....There are some positives I believe.

First of all its goldman sachs.

Second of all, Buffett got a deal that wasnt available to the public. He would have been an utter moron not to take it.

You want to buy financials? As I said in another thread, there probably is an opportunity but can you find the gem amidst the falling knives? Be my guest.

[CSC]

Well not to sound like I am bragging because I've sure made some bad picks this year, but I did buy WFC - Wells Fargo a favorite of Mr. Buffet's at $20-21 about 2 months ago that hasn't done so badly.

[dalakhani]

Originally Posted by CSC

Well not to sound like I am bragging because I've sure made some bad picks this year, but I did buy WFC - Wells Fargo a favorite of Mr. Buffet's at $20-21 about 2 months ago that hasn't done so badly.

Nice pick. Did you do US bank as well? He bought into that one too.

[CSC]

Originally Posted by dalakhani

Nice pick. Did you do US bank as well? He bought into that one too.

No but I am looking at RBS, a european bank they are pretty beaten up at the moment selling at under $3/share right now. But the way things are it may even go cheaper.

[dalakhani]

Originally Posted by CSC

No but I am looking at RBS, a european bank they are pretty beaten up at the moment selling at under $3/share right now. But the way things are it may even go cheaper.

Royal Bank of Scotland...hmmmmm

do your research my friend. They do bailouts in europe too ya know.

[CSC]

Originally Posted by dalakhani

Royal Bank of Scotland...hmmmmm

do your research my friend. They do bailouts in europe too ya know.

It's trading at 2.75 / share at close today, if I am not mistaken a 52 week low. It's close to an entry point if you ask me, this stock was over $10 just a year ago.

[dalakhani]

Originally Posted by CSC

It's trading at 2.75 / share at close today, if I am not mistaken a 52 week low. It's close to an entry point if you ask me, this stock was over $10 just a year ago.

Well, if you are betting RBS, you are betting on congress getting the bailout done. Good luck. RBS is a big winner with the bailout at least thats what the rumor is.