The Investment Scientist

Posts Tagged ‘Wachovia

and this will happen.

What will happen to your money if you hire a salesman as your financial advisor

What will happen to your money if you hire a salesman as your financial advisor

8/11/08 Mad Money:

I called the bottom in the financial stocks on July 15. Since that call, many of the banking stocks are up, and up big. Wachovia Bank was $8.90; now $18.60 a share. WaMu was $3; now $4.08 a share. Incredibly AIG was $20; now $24 a share. Even the troubled Fannie Mae is up from a low of $6.90 a share to $8.30 a share today.

9/5/08 Lightning Round:

I like (Wachovia) CEO Bob Steele, so this stock is a buy.

9/10/08 Lightning Round:

Consider buying Wachovia on any weakness.

9/18 Mad Money:

Investment banks, like Goldman Sachs just cannot be owned …The time has come to put the investment banks, like Goldman, on the back burner, and instead focus on the deposit banks, such as Wells Fargo, US Bancorp, Bank of America, Wachovia and JPMorgan Chase.

9/25 Mad Money:

Wachovia will also benefit from the bailout. With CEO Bob Steel’s previous government experience, he will be able to take advantage of the plan by splitting Wachovia into good and bad components and sell off the bad parts quickly to the government.

9/29/08 Mad Money:

Wachovia was toast.

Note: Jim Cramer is a vivid example of investing by a hunch, a gut feeling and hearsay. The opposite is Harvard and Yale style of investing, which is rigorous and disciplined.


Michael Zhuang is principal of MZ Capital, a fee-only independent advisory firm based in Washington, DC.

Twitter: @mzhuang

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