Bold Analyst Cuts Price Target On IndyMac

Posted by John Carney, Jul 08, 2008, 11:47am

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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Tags: IndyMac

Comments

Posted by AJ, Jul 08, 2008 11:56AM

Research is useful for initiating reports and updates that give you a nice overview of a company. Research is useless for actual investment advice.

Posted by guest, Jul 08, 2008 12:01PM

Those who say don't know and those who know don't say.

Posted by guest, Jul 08, 2008 12:04PM

Agreed.

Ambac, MBIA, GM, etc. etc.
If you are taking someone else's advice, you are getting fleeced......unless of course it is Cramer.

Posted by guest, Jul 08, 2008 12:14PM

@ 12:01

Agreed.

Posted by guest, Jul 08, 2008 12:22PM

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.


Posted by guest, Jul 08, 2008 12:52PM

@ 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.

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