Implosions…They Happen Fast

Posted by Howard
on July 5th, 2008

I have been walking the streets of Manhattan the last week and one thing stands out…a lot of freaking Capital One (COF) banks.

Where did these come from and more important…why?

I hated this stock back in my trading days and I never made any money from the short side on this one. It really does not pay to be early. I was about 7 years early. The COF shortsellers are finally having their day in the sun and although I have no short position I am tempted as ever because of the drunken nature of this management. It just feels like a teenager.

I can’t imagine that all those high priced Manhattan leases won’t come back to hurt them. Not enough that they have raped consumers, they needed to rape the common shareholders as well.

Job well done.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.