Saturday, October 27, 2007

Countrywide says profitable in Q4, yeah right!

and the stock shoots up 32%?!?!

is ANYBODY watching what's going on? moody's finally issued updated ratings on CDOs to the approrpriate JUNK status, the dollar is falling, the CEO has dumped 2 MILLION shares since May 1. He keeps cheerleading as the ship is sinking.

I have a philosophy: judge a man by his actions, not his words. if HE is selling, why should YOU buy?

i'll bet we'll see a press release, sometime in q4: "the credit market did not stabilize as we anticipated, in fact, what we saw was just the tip of the iceberg" and suddenly they will act suprised as the real estate market continues to falter. ugh...the knife is still falling. check out merrill lynch, they claimed 6.2 billion or so loss about 2 weeks ago, then announce earnings and say 'whoops, it was really 8 billion'.

1 comment:

Chad said...

Hope my money is safe -- I just transferred some $$ into a high-yield savings with Countrywide. They also happen to have my mortgage.