Black Monday Markets

CSC · #1 09-29-2008, 02:30 PM

More Markets turmoil! When will it end?

MaTH716 · #2 09-29-2008, 04:06 PM

Market -689.59
Have a chance to break 10,000 tomorrow.

MaTH716 · #3 09-29-2008, 04:07 PM

Quote:

Originally Posted by MaTH716

Market -689.59
Have a chance to break 10,000 tomorrow.

Wow, big downtick
-748.21

It dropped even more after 4:15 -777.48

CSC · #4 09-29-2008, 04:38 PM

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.

dalakhani · #5 09-29-2008, 05:19 PM

Quote:

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 · #6 09-29-2008, 05:26 PM

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 · #7 09-29-2008, 05:28 PM

Quote:

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 · #8 09-29-2008, 09:27 PM

Quote:

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 · #9 09-29-2008, 09:32 PM

Quote:

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 · #10 09-29-2008, 10:25 PM

Quote:

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 · #11 09-29-2008, 10:32 PM

Quote:

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.

CSC · #12 10-07-2008, 12:36 PM

Quote:

Originally Posted by dalakhani

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.

RBS down to 1.66 a share, luckily I listened to my little voice and stayed on the sidelines. The market makes little sense right now...Quality and patience is the key here, look at what Buffett does.