Bought Some Wachovia Today
I bought some Wachovia today. I have been watching it for a while… man has it been pounded. Let me tell you what tipped it for me: this article saying that Goldman has been hired to advise Wachovia.
Goldman’s involvement is a clear signal to me that they are shopping a buyer. Goldman can help value and negotiate the deal. These advisory services are what Goldman does, and they do more of this than any outfit on the planet.
Even if they don’t get bought, it is so knocked down that if your timeline is a year or more you will be rewarded handsomely, and at this point, with very minimal downside risk.
Disclosure: As of publication I have am long WB, though my positions may change at any time. I am not a professional, but I am trying this at home. It is highly recommended that you consult a licensed financial advisor or broker before making any and all investment decisions.
