1.19.2008

Well, he told them once and he told them twice...

... but they never listen to his advice.

I just stumbled upon this in the Varones archives. I had not recalled that Bank of America analyst Robert Lacoursiere went ultra-negative on Countrywide long before B of A bought in at $18.

B of A is paying this guy the big bucks to analyze Countrywide. They should have paid attention to his conclusion.

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Quotations from Chairman Varones

There are very few financial problems that can't be solved by a suitable application of asset bubbles.