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Serious Money: Tempting fate with 10 financials

 Jul 30, 2008 01:52 PM UTC
Picture_29
Return Risk
+2.70% MID
Tracked Blogger
Symbol Sentiment Start Return Closed
WM Positive 07/30/08 -10.87% 08/19/08
WB Positive 07/30/08 -71.46% 12/02/08
EWBC Positive 07/30/08 +19.83% --
C Positive 07/30/08 -87.72% 02/23/09
LEH Positive 07/30/08 n/a --
MER Positive 07/30/08 -55.40% 01/02/09
ETFC n/a
GKK n/a
MBI Positive 07/30/08 +60.07% 08/11/08
NCT n/a

Graphic_arrow1 Via BloggingStocks:  

Filed under: Major movement, Market matters, Citigroup Inc. (C), Merrill Lynch (MER), Wachovia Corp (WB), Washington Mutual (WM), Serious Money, Lehman Br Holdings (LEH), Stocks to Buy, Newcastle Investment (NCT), MBIA Inc (MBI), Gramercy Capital (GKK), E*TRADE (ETFC), East West Bancorp (EWBC)

After the market closed last night, with the Dow Jones Industrial Average rebounding from Monday's notable drop and ending the trading day at 11,397.56, up 266.48 (+2.39%), I posted Serious Money: 10 finance stocks as the market bounces. This is the follow-up post listing the full pool of speculative stocks that as a group I believe will beat the overall market in the next 12 months.


The prediction business is thankless and the speculative business is even worse; it is often painful. I usually refrain from this activity but today I play the contrarian in a Sir John Templeton (RIP) sort of way, jumping into the stock market's worst performing sector with both feet. I believe the market is at or near a bottom and this summer is the time to buy.


Looking for a break in the clouds, yesterday I started choosing ten stocks knowing that three or four may go to zero, a few more will survive with modest gains, and three or four will rise, not returning to their old glory soon but more than covering the ones that fail. The first four picks have been bleeding all over Wall Street for a year now and the blood-letting is not done yet.


Initially I was looking for stocks that had fallen at least 70%. After reviewing my figures, I have compromised and changed that to 63% so that I could include some of the major companies like Citigroup Inc. (NYSE: C) that are broadly held and have strong reader interest. Prices are as of July 29, 2008.

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