The thing to admire about USB is their acquisition history, or more exactly, their lack of one. They haven't made a major acquisition since Firstar in 2001-- which was a pretty ratty year for US economy. Acquiring Downey and PFF Bank at bankruptcy prices was nice work too. This stock might go down further in the next 3-12 months, but it looks like it could rally in the near term. Long term, it's a financial institution that might actually emerge BETTER than the 2007 highs it left behind. If it doesn't work short term, hold onto it thru the storm.
$14.339 (02/04/09)
