A lot of people are afraid of heights. Not me, I'm afraid of widths.
As a shareholder in BAC, I thought the purchase of Countrywide made sense, but did not agree with the purchase of Merrill Lynch. When I posted that on this forum I can remember one of the lackey's from the BAC offices telling me to sell my stock. I guess maybe they should listen to their stockholders. But I have faith in Ken Lewis & his ambition, remember they were going to back out of the Merrill deal but the feds convinced them with a lot of dollars to go forward. As of today, Thain will get to enjoy his parachute with little accomplishment.
I'm still increasing my position in BAC. That's the kind of faith I have - but I've been wrong before. As you know a tough market is harder to navigate than trying to find a competitive FT dog, but there are rewards & consequences.
Everyone's friend is No One's friend
Someday your life will flash before your eyes. It's your responsibility to make sure it's worth watching!
This opinion is worth what you've paid for it.
Faith has no place in investing or trading. Losses are very hard to make up, money management trumps selection and if any or all the BKX stuff is treated the way it should the equity and debt holders will end up with 0.
A simple example of my statement: what do you have to earn on your account when it has gone from $1000 to $500? Have enough time to compound back to $1000.
Disclosure: I'm not an investment advisor just an individual trader, trading my own accounts.