Not Waiting Until the Ship Sank - Rerun
Posted on May 6th, 2008 by Will Work for Cheesecake!!!The market got tumble today, when will the credit crunch be over? I don’t really know but it making a lot of banks stocks very cheap. I’m I buying banks? Yes, I am buying bank. When everyone lost hope in financial stocks, I still think there is hope. Some banks will go away and some will survive.
I have lost $677 from Wachovia (WB) now and I am staying with Wachovia. Managements are buying their company stock and it gives me some confidence in Wachovia. I don’t like to see management jumping ship. I like to see management buying the company stock when it falling.
I also lost $410 in Well Fargo (WFC) and I am staying with Well Fargo. When all seems lost, I still think the two banks have a good business model and show promising sign of recovery. When the rain is over the flowers will bloom.
What mistakes did I make?
The mistakes I made was that I bought too early when investors are sinking the ship, I didn’t wait for the ship to sink to the bottom of the sea. You probably thinking that just so dumb why do you do that? The reason is that I’m all-alone and have no friends (I’m just kidding). Mistake wills be made that just part of investing, I am sharing it with you free of charge. I am buying more Well Fargo and Wachovia because I think when the rain stops these 2 stocks will bloom.
The business model is still there. Managements have not jump ship. The price is on sale and at very deep discount. You can say I am taking investors fear and transforming it to my advantage. I like buying from what people fear and don’t want.
Why Don’t You Ask Other for Advices?
Most of them want you to pay for their advices. Some of them think they are so prefect and don’t want me to joy their millionaire club. I am just a poor man holding a sign that read “Will Work for Cheesecake!!!.”
Did I lose all my money in stock? No, I have diversification in place. I don’t own just one sector I own about 7 sectors in case I makes mistake. I did make money in 
Nucor (NUE) and Burlington Northern Santa Fe (BNI). I bought Nucor at 50 now it 68 dollars a share within month. I wish I can determine where the market is going before everyone is getting in, but it is very difficult to do.
First Published: March 07, 2008 @ 14:00
3 Responses to “Not Waiting Until the Ship Sank - Rerun”
What Moods Are You in Right Now?
March 7th, 2008 at 3:00 pm
will i work for cheesecake? The answer for starbuck is NO. Why? Cuz cheesecake only got “Cheesecake in there”..Let me ask u this ” Will cheesecake work for Starbuck Co”. Cheesecake need to keep up with good article for starbuck to read about investor…Cheesecake went willl u make me real cheesecake in investor..heeh
March 7th, 2008 at 3:44 pm
very cute sexy
May 6th, 2008 at 9:01 pm
Hi “Will Work for Cheesecake” , you write about some of your investments and losses therefrom. Do you have any specific goals when you invest ? Or do you just pick a stock like the guy throwing darts and hope it will make some money for you ?
If you invest like that, its pure luck if you make any money. Yes, all the banks have a business model, and basically it is to lend money and make money on the margin. Some banks are in business to lend to individuals, some banks only lend to a business. When making an investment in a bank, the first thing you have to do is to take a serious look at management. How well do they do their job ? How long have they been in the job ? Do they employ too many people ? What kind of advertising do they do ? What are their losses ? There are many ways to find out about the management of a bank, or for that matter of any company you want to invest in.
For instance, do you invest your money through a broker ? Chances are you do. Have you ever asked the broker specific questions about management ? That’s where you want to start. And then look at their stock. How well did it do over the last number of years ? Did they engage in the rather dumb practice of lending money to people who really had no business in the first place to ask for a loan ? If they did that, then no matter what “model” they have, I would stay away from them. Investing is a serious business. Learn and read about it as much as you can. Hathaway Berkshire wasn’t built in a day, but if you had bought just one share a few years ago, you could have been a millionaire by now - well almost.
Those are just some thoughts coming to my head after I read your post. Hope you get a couple of ideas out of it.
befreecas last blog post..1