financials got creamed today

[glovesetc]

guess the losses were a lot larger then the banks and the brokers were letting on . Gee that was a big surprise . I predicted here that it was gonna get worse a month and a half ago .

[ChefJJ]

Originally Posted by glovesetc

guess the losses were a lot larger then the banks and the brokers were letting on . Gee that was a big surprise . I predicted here that it was gonna get worse a month and a half ago .

It'll go back up, so I wouldn't get too excited.

That's why it's important to understand which companies are solid to invest in. Take a financial like Blackrock...no exposure to commercial paper like that involved in the sub-prime crap. This stuff just makes companies like that stronger.

good luck

[21forme]

IMO, a great buying opportunity now. Just loaded up on C. Looks way undervalued...

[mdlbj]

I work for a major securities company and no one seems to be panicking.

[ChefJJ]

My thoughts exactly. Mid-june was a good opportunity to pick up equities, and this may be too. I'm in it for the long haul anyways.

[KenSmith]

Originally Posted by 21forme

IMO, a great buying opportunity now. Just loaded up on C. Looks way undervalued...

I owned some Citigroup shares, but sold out a few weeks ago at $48. (Today it is trading at $37.) The Citi name keeps turning up in just about every scandal-tinged financial story out there. Somehow I think Citi could end up as Enron Junior. I also had a rotten experience with customer service with a new account I had there.

Obviously I could be way off base here, and I admit that a 5.2% dividend yield looks tempting. But I'm staying away. Good luck to ya.

Edited to add: If my decision goes the way they usually do, everyone would be well advised to load up the wagon on C shares! :-)

[glovesetc]

load up I feel it is a good buy . I also fear you will feel some pain in the short run . I have a good sized buy order in at $28.00 although it may never get there. Actually not a large - 2,000 shares- buy order but big for me as I own only exxon mobil which I got as a graduation present of 1,000 shares back in 1970 and have never touched it basically . I think oil is gonna run right through a $100.00 by the way and i feel the support level in now around $88.00 on it - not a rosy outlook folks for gas guzzling SUV owners for sure !!!!!

[rdorange]

I think the same way... I'm in most of my investments for the long. I look at some of these downs as a great buy opportunity.