Nothing quite as annoying as owning a stock that is down more than 2% on a day when the markets are racing up more than 2%. That takes the wind out of your relative performance sails pretty quickly!
I will be back later today with a more detailed write-up of BB&T's (NYSE: BBT) earnings. For now, suffice it to say that I thought the earnings were better than the market seems to think. A lot of the banks that are jumping up today are doing so because of reserve releases and other sorts of tinkering with credit estimations. To be very cynical about it, bank executives are saying "we do not think things are so bad ... so, voila, our earnings are better!". BBT, though, plays by much more conservative rules.
Now, I am not saying they were great earnings - they were not. But they were not as bad as the stock's reaction would suggest.
Again, more on this later.
Disclosure - I own shares of BBT
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