Financial stocks rebounded today. Ken Lewis, Bank of America CEO, bought 1.2 million in BOA stock. I had a feeling that the stock was oversold. The stock has popped up to $6.70 a share today. There could still be more pain ahead but I am comfortable with my current cost basis. JPMorgan CEO Jamie Dimon bought 11 million of JP Morgan stock today. I think that this illustrates that he thinks his company’s shares are undervalued. JPMorgan is one of my long term holds. I know that financials look terrible but long term there may be an opportunity. You just have to be selective and pick wisely.
Make Money Investing The Warren Buffett Way
Interesting. I think of everything as a long term position, meaning >5 years right now…..The economy is horrible