Admitting mistakes is never fun, but if you're going to write about
stocks in public fora it is a part of the job description. Four months
ago, I thought Synovus (SNV)
shares had gone far enough, as I saw the probable lack of revenue and
operating profit growth, coupled with a potentially slower credit
recovery and the need to pay back TARP as limiting factors. Since then,
the shares are up 19%. Now, in fairness to myself, the stocks I liked
better at the time - including BB&T (BBT) and Bank of America (BAC)
- haven't exactly been embarrassments (up 14% and 21%, respectively),
but Synovus' 19% gain is definitely more than I thought was likely to
come.
Please read more here:
Facing Up To A Bad Call On Synovus
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