May 08, 2006
Clear level headed thinking
That is why I like Eddy's blog. I cant put certain stories together, but know a good one when I see one .
Eddy is a shareholder in Golden West Financial which is getting taken out by Wachovia. Good for him and the shareholders of the stock.
My take is that the bankers and Wachovia are just piling assets together that will be unwound at the bottom of the cycle by the same bankers. Trend followers using other people's money. YOURS.
Yes I am cynical of these pile on mergers, but based on the track record of the family that built Golden West Financial, they are likely selling near the top of this cycle.