I heard some sad news today about E*Trade’s CEO, Donald Layton, stepping down at the end of the year. It’s sad because he was doing such a great job at the company and I just happened to own some E*Trade stock. Considering the mess that E*Trade was in with the terrible mortgage portfolio they’ve been struggling with this past year or two, I have to give Mr. Layton an A+ [...]
I read this interesting article about fund managers buying heavily into bank stocks lately. It left me thinking — do they know something I don’t? Well, for one, these fund managers are closer to the banks than I am and are definitely more familiar with how large financial institutions work. Some of these guys are in charges of billions of dollars so [...]
It looks like the financial stocks are all taking off today, particularly the ones that haven’t had a run yet. For example, ABK and MBI are both making a nice move up today. Maybe they’re piggybacking off of the explosion of AIG’s stock price since they’re all related to insurance. That’s a [...]
CIT Group (NYSE: CIT) is such an interesting stock. It nearly went bankrupt less than a month ago and though, it’s not out of the woods yet, it offers an interesting opportunity. Yesterday, I bought CIT Preferred A shares around $2.30. I would much rather buy the preferred shares than the common stock because if the company does go under [...]
