Monday, September 1, 2008

Lehman Is screwed

I ran across this today, Lehman is a buy — and here's why ; from what I've read, the article only displayed reasons why you should short the stock.

Analyst says Lehman will address problems or face hostile takeover bid

By John Spence, MarketWatch
Last update: 11:29 a.m. EDT Aug. 29, 2008

BOSTON (MarketWatch) -- One of the more candid analysts tracking Wall Street is sticking with his buy rating on Lehman Brothers... the embattled investment bank planning to lay off as many as 1,500 employees...

Chart of LEH
Chief Executive Richard Fuld is also said to be facing an internal rebellion...

'This saga is not likely to continue much longer. Since I believe the result will be a positive one,' Bove said, even though markets are expecting "dismal" results for the fiscal third quarter, which ends Aug. 31. End of Story

The attempt at deception is unbelievable, Bove thinks we're stupid. He tried to entice investors into buying Lehman stocks with only a "I believe the results will be a positive one...", he could've done better than that. Not even the dumb money would swallow that up.

Lehman Brothers is f&*$ed, and Bove's handlers want to dump the stock, it would be great if some uninformed investors decide to make the investment off the above propaganda for a nice rally to sell off from. There's some truth.

0 Reflections: