One day after IndyMac, the largest independent home lender in the United States, announced it would cease making new loans, was not considered well-capitalized by regulators, had no bidders for its assets and would fire about half its workforce, an analyst at Friedman, Billings, Ramsey & Co. cut his price target on the company. Keen market insight there.
IndyMac Bancorp shares dip; analyst sets $0 target [Associated Press]
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Research is useful for initiating reports and updates that give you a nice overview of a company. Research is useless for actual investment advice.
Those who say don’t know and those who know don’t say.
Agreed.
Ambac, MBIA, GM, etc. etc.
If you are taking someone else’s advice, you are getting fleeced……unless of course it is Cramer.
@ 12:01
Agreed.
I beleive IndyMac was founded by Countrywide and then spunoff with the brash young man by the name of Mike Perry at the helm.
They had a near death expirience back in the late ninties when they were a REIT and their wholesale funding disappeared.
@ 12:01
I like the sound and balance of the sentence and what it says. Like most sayings our brain does a little flick with it, nice candy, and we feel that we are smart. However, once you get over the little high, a closer look reveals it to be more “ah shucks” bullshit.