I have been telling you since I started blogging (all of two weeks) to avoid the financial sector as I feel the market has not totally discounted all the pain that is yet to come. I do, however, see some stocks that I like priced at a discount.
Dan H over at Nesteggr gives some of his choices including Bear Stearns, Goldman Sachs, Bank of America, and Piper Jaffray. I think he does an excellent job of giving a reason for each. Now he personally owns PJC so he makes a stronger case for them, of course.
I also like Dan's other blog, The Curious Investor. I am adding it to my blogroll. Dan gives excellent technical analysis of individual stocks and EFTs.
Now I have written that I like Bank America (BAC) before. Today, I am going to add B of A to my portfolio. I do think that we may have a rough patch ahead but B of A trades at a lower P/E ratio than banks and it shouldnn't. I have a time frame on this stock of 18 to 24 months, that should give us plenty of time to ride out this rough patch and give the stock a chance to catch a bid higher.
Tuesday, August 14, 2007
Not Listening to my Own Advice
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2 comments:
Haha... I didn't mean to make a stronger case for PJC. I mean, it's been an absolute dog for me so maybe I'm being too hopeful. But, I do know it better than the other stocks which I looked at rather quickly while writing the post. If anything, I'm probably less bullish on PJC than I am on some of the other stocks I listed. I like to think that I was just giving a more "detailed" analysis of the stock that I own.
I don't think it came out correctly. I meant no offense by it. I should have left out the "of course" portion of the statement. You keep doing what you're doing Dan.
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