Thursday, February 08, 2007

Can't resist betting on the housing and banking bust...

Selling ~£22,000 worth of Countrywide (that's the US one, not the UK one), stock trading ~43.75 just now.
 
There is far too much optimism from market participants on how the housing crunch and repurcussions to the lenders will pan out. When they finally realise how bad this is going to get, this is one stock that will get crushed...along with WaMu, which I'm already short.

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