trick or treat
As the financial crisis was simmering in 2006 and 2007, some financial services companies began to look like bargains as fundamentals began to deteriorate. One that looked really cheap was Washington Mutual. I was heartened by the fact that several value-oriented US mutual fund portfolio managers that I respected owned a significant amount of the name.
Needless to say, the investment didn’t pan out. The US FDIC took over Washington Mutual on September 25, 2008, and JPMorgan bought it for $1.9 billion.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
whqqq : More than ten years have passed. I believe you have learned a lot of lessons and can reduce the risk of investment.