Value Microcaps Motherboard

[lentinman]

Kipp:

Ben Stein leads off this panel with the following comments about Financial stocks.

"Financials are being given away... unbelievably cheap... buying opportunity on financials - maybe like I've never seen in my lifetime."

Ok, at least in this case, Ben Stein is a moron!

That was on August 18th, a couple days after the Countrywide meltdown. There are a few exceptions, but since August 18th, here is a smattering of returns on the financials that were "being given away, unbelievably cheap, best opportunity in our lifetimes".

-21% Capital One
-14% Wells Fargo
-14% Bank of America
-31% Citigroup
-30% Merck
-18% Bear Stearns
-27% Fannie Mae
-34% Freddie Mac
-45% Washington Mutual
-35% Countrywide Financial

Len