Who was buying into the "cheap" bank stocks?

[AtW]

Recently bought Lloyds TSB for my pension.

LTSB had only a hundred of so millions lost in subprime - they seem to be much more conservative bank than others, well, maybe LTSB is actually a bank while others are just speculating using customer assets.

[PerlOfWisdom]

Perhaps a 2 bed flat in Sheffield? ^^

Perhaps read that thread - the woman was from Sheffield, the flat was in Bradford.

[Bumfluff]

German bank, big poo, cant say anymore, tomorrow you will see

[Jog On]

Did you do your due diligence?

Or... just buy it cos it's 'hot'? and blue chips are 'cheap'?

[Jog On]

Did you read about that billionaire chappie who had accumulated 10% of Bear Sterns at 100 dollars a share?

Bet he looks a bit sick now.

tim

I doubt the portion of his portfolio for this stock would make a dent in his overall wealth.

I hope he's still smiling and me with him

[threaded]

Perhaps read that thread - the woman was from Sheffield, the flat was in Bradford.

It gets worse ...

[BrilloPad]

Did you read about that billionaire chappie who had accumulated 10% of Bear Sterns at 100 dollars a share?

Bet he looks a bit sick now.

tim

rumour is he is thinking of blocking the takeover! So his $22m will be worth nothing...

[threaded]

rumour is he is thinking of blocking the takeover! So his $22m will be worth nothing...

Yet, he may have made a punt on it going bust, and his buying the shares allows him to initiate legal action to stop anyone else taking it over, thereby insuring his profit.

[DrGUID]

Be interesting to see what the yield is in a few years when they are bankrupt.

Looking foreward to your retirement round an old oil drum then?

Well Lloyds TSB are pretty conservative - my local branch had wooden counters and looked like it was from the 1950's.

Luckily I have a final salary pension to fall back on as well. I'd rather go down the higher risk route with my SIPP. In these days of hedge funds and shorting, as well as other alternative investments I don't see much point in just buying a FTSE tracker - I can't see it even going above 7000 for a very long time.

[Sysman]

German bank, big poo, cant say anymore, tomorrow you will see

Any news on that yet?