Bay Area Housing 02 Oct 2007 09:44 am
um, that’s one interpretation
In it’s earnings report yesterday, Citigroup announced that it’s profits were down 60%. Apparently, this sent Cititgroup stock up because investors took it as a sign that the worst of the credit troubles might be over. Maybe the bad news is all priced into the credit markets now. Or, perhaps thats wishful thinking — after all, the worst of the mortgage rate resets are still ahead of us.
on 24 Nov 2007 at 5:14 pm 1.Neil Smithline said …
I remember the dot-com rise and how every VC, stock adviser, banker, CFO, etc… said that their company was undervalued. Even as companies started dropping like flies they kept yelling “Buy! Buy!”. Since then I think anyone who proclaims anything about the future of anything financial should be forced to disclose a summary of their recommendations during the dot-com bubble bust.
And, in keeping with my own suggestion, I’ll let you know that I converted my kids college fund to cash 6% of its peak worth. So take my opinion for what its worth.