The Fat Pitch Financials Portfolio ended October 31, 2008 with a balance of $923,449.36. That balance is down 21.04% since last month. In contrast, the S&P 500 return declined just 16.43% over the same time period. Over the past quarter, the portfolio is down 27.33% versus down 22.68% for the S&P 500. Over the last
This week’s edition of the Festival of Stocks is hosted by College Analysts. This edition is jam packed with articles. Apparently, last week’s market tumble didn’t slow these bloggers down. I’m happy to see that James Cullen included my post on Bill Ackman’s presentation at the Value Investing Congress. The Festival also included another article
One of the highlights of this year’s Value Investing Congress was Bill Ackman’s presentation on Monday, October 6, 2008. The focus of his presentation was on his recent long position in Wachovia (WB). If I got my facts straight, Ackman bought into Wachovia around Monday, September 29, 2008. He then sold half of his position
Earlier today I read that talks between Wells Fargo (WFC) and Citigroup (C) were breaking down over the acquisition of Wachovia (WB) bank. It looks like they completely fell apart tonight according to this AP report.
Welcome to the October 6, 2008 edition of Festival of Stocks. This edition of the Festival of Stocks is coming to you live from New York City. I’m in New York to attend the Value Investing Congress, which I’ll be writing about throughout the week. If you aren’t already familiar with my blog, Fat Pitch
I added a half position in Wells Fargo & Company (WFC) today to the Fat Pitch Financials Portfolio. In my Marketocracy account that tracks this portfolio, my order for 1,400 shares of WFC at an average price of $34.85 was filled just before the market closed today. I based my decision in part on the news that Warren Buffett had
Today I’ve been thinking about who the winners and losers of the government bailout of Fannie Mae (FNM) and Freddie Mac (FRE) will be. It will take some time to sort the impact of unprecedented government intervention on the financial markets. However, the market is already betting on how this “black swan” event will play out. Placing the