Yeah I made a mint off buying the fear in BAC in 2009, an easy 5 bagger that one was and in about 6 months time as well.
All I am saying guys is that there is one huge catalyst to be revealed that will drive this stock one way or the other quite quickly, and that is the final tally of govt ownership which should be known around July 26 after the RI closes.
Anyone who thinks it is a given that BOI will remain majority private is foolish IMO. Those Irish investors are bad pissed and they might not take up enough additional stake to avoid govt control.
If they do, both BKIR.L and IRE will pop, but if not they will both suffer short term, and IRE likely way worse than BKIR since it is already priced in at the new shares offered at .10 euro.
I am not trying to scare anyone out of their shares and wish all longs in IRE well. I'll just be sitting on the sidelines and watching close, I can jump in quick if they retain majority control and I can get in really really cheap if they do not. Long term I think BOI regains strength and even if the govt takes a short term majority stake I think that gives BOI even more incentive to pay them off just like GM did after they regained longterm solvency after the govt bailout. No company wants the govt dictating to them their business.
With a stock like this in this particular predicament its going to move purely on market sentiment and fundamentals are out the window for now.
malc
