So Merrill Lynch is being tried by the public markets today (and losing bad) for parking off balance sheet mortgage and other real estate packaged crap at hedge funds. It’s not proven, but you know they do this stuff.
I am looking for paper shredder stocks, because they must be flying off the shelves in manhattan today :) .
You know how I feel about this. These firms are well dressed crooks. The smartest ones.
In the end, this will be scrubbed clean, but who’s smart enough to call a bottom.
I am extremely tempted down at these levels to dip my toe in this great/tarnished financial brand. Merrill is now back at 1998 prices. Considering the global bull maket, that is simply quite amazing. Talk about underperformance.
I wish Goldman was back at $160 and Bkackstone at $20 because those would be the ones I would buy.
Disclosure – No positions