Here is the problem I have with the book value. Although true what you say. It does not take into account the value of the thousands of homes in this area. We all know about the collapse. Seacoast was lucky to make it to the otherside of this thing. But now have many houses on their sheet that will gain 30% (realistically) in value over the next 2 years. If only 30% of their assets are home loans. 650 million. That increases their value by 200 million over the next 2 years.
Not ssure if those numbers are exact. Just the fact they made it out of the recession, did not sell, were a $30 stock at one point. Lends one to almost be sure... That if you buy today at 2 bucks. You will be at 20 in 10 years. These guys went down 35% year over year for the past 5 - 7. If you only get back half, that is 17% year over year for the next 5.
Same situation for BAC. Down 18% year over year for 5 years. Although at a 52 week hig close to 13 bucks. It too is way undervalued going forward. Once a 60 dollar stock. Both are big winners....
What others you guys got... Want a long shot ? AMBS. Its a .04 cent stock that has went up 10 fold in a year. I can tell you, do you DD on them. But they have most of my money. These banks are my sure bet. AMBS "hopefully" will make me rich. I think, they are doing a great job, have professionals involved, great people, a great bioscience. Holding out for the right deals.
TThey did make a couple small mistakes starting out. But have brought in some real players and advisors. Amgen co-founder. Ely lily past incubator cheif, etc... Just cant miss. vBut time the "out" may be hard. It will be vilotile for sure. But it could shoot from .04 to .25 with 3 months, then back down to .10 again. The white papers they produce, and the timeing sheets they offer for their future products are very important to print out. Watch the timelines closely. See if they are late on the first one or two, then going forward, base you investment timing on that lateness for future stuff...
Good luck guys, thanks for letting me vent. :) Please pass on any other stocks yo might think is good. No one comes to this page, so I think its a great place to post and meet...
