So is this a BUY, SELL or HOLD on Morgan Stanley?
If you don’t already own it, don’t buy it.
Otherwise, stay way the heck away.
You’re not gonna catch the falling knives and come out unhurt.
If anyone is going to clean up from the aftermath, it’s Warren Buffett. Bought some BRK today.
Well, Morgan-Stanley is down 10%.
Buy a shovel and invest in dirt with good gold assays.
IMO the best move is to hold. Let this get sorted out before doing anything rash. I wondered why, after the AIG bailout, why the market rose slightly then fell again. I told my wife I thought it was because there may be more big financial houses in trouble and Wall Street knows it. Looks like I was right.
In addition to everything else going on in the rarefied world of finance, it looks a like lot of investment companies were up to their eyeballs in “naked” short sales. Not sure exactly how it works, but it involves a way to make money on a stock’s decline. Apparently SEC has put new rules in effect to stop these transactions.
I’m still waiting for the people responsible for abusing the trust of their investors to be criminally charged, tried and sent to jail.