Monday, November 12, 2007

Passing on (and passing on) two bank buys

I've been watching two banks --BB&T and HBHC-- through this whole meltdown and, damn, if I didn't have such a bad taste in my mouth about banks in general, I'd have snapped up both of them late last week. BB&T is a great brand that I did positioning work for during a half-dozen year relationship. One of the few banks that has some honor at its core. Hancock is sentimental; my Sutter cousins were involved in running the bank for years, and being the surviving hometown Gulfport bank, they still have lots of upside potential with all the rebuilding that will go on there for many, many years to come.

Solid upward trajectory for both stocks the last three days. I'd buy, but I just can't get past the bad aftertaste when I say the word "bank".

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