BENWEEWEE (finance content)

[Swimmer]

Originally Posted by likwid

BSC

wtf?
cheapest its been in 10 years.

BSC ??????????

[likwid]

Originally Posted by Swimmer

BSC ??????????

http://money.cnn.com/2007/08/20/maga...ion=2007082105

[fishpoopoo]

dude, steer clear of it. in fact, steer clear of all financials for the time being.

i used to work there. what a crappy firm. they are laying tons of people off right now.

they are a fixed income shop with second rate equity and derivatives franchises. they made their name in the 80's and 90's in mortgage-backed securities.

funny, for a shop that is a stickler for risk management, they had a few hedge funds blow up recently (subprime CDO's). liquidity has frozen in most mortgage-backed asset classes (the bread and butter of BSC's biz) and in spite of bernanke wussing out on interest rates ... MBS markets are not likely to improve any time soon.

there might be more skeletons in the closet.

anyhoo, if you believe in wall street consensus, according to First Call, the consensus rating is 2.31, which is basically a weak-tit buy rating.

[Swimmer]

Originally Posted by likwid

http://money.cnn.com/2007/08/20/maga...ion=2007082105

Thank you Likwid........

[fishpoopoo]

Please tell me you didn't buy this stock.

Stay away from financials.

The writedowns are just the tip of the iceberg ... some industry analysts are estimating up to $500 BILLION of subprime loans will be written down in the U.S. in the near term. That's conservative, given the trillion or so of existing loans that are about to reset.

Before I jump into this name ... I'd look at the mortgage insurers first. If any of them go belly up, it's time to short Goldman Sachs.

[likwid]

The sky is falling!

[fishpoopoo]

[The Iceman 6]

We're all gonna die...