Bank of America, AT&T & Prez Candidates Economic Advisors Spill the Details

6:30 AM — During a market like this, there’s usually one spec play you put your finger on the trigger for, but you just don’t have the confidence to go in for the kill and scoop it up, due to nagging questions over whether the company will recover.

While I’ve steered clear of investing in banks and financials during this market, I can’t help wondering if I’m missing a golden opportunity to buy Bank of America. The reasons not to buy the stock are clear:

Will their acquisition of Countrywide lead to BOA’s demise?

Will the acquisition make them stronger in the long-run; or will they be unable to eek through this market?

Yet, I still can’t help thinking if Bank of America survives this market — there’s a damn good chance the stock will be trading many times its current value a couple of years down the road — and I’ll be kicking myself that I didn’t cover my eyes and pull the trigger.

C’est la vie… in the stock market there will always be the woulda-coulda-shoulda’s… and sometimes it’s okay to sit back and not get in at the lowest of the lows and instead play it more safe by waiting to jump in around the middle when a stock starts heading back up.

On the topic of banks and financials — I’m beginning to think I’m the only one really concerned about Fannie Mae and Freddie Mac. While many just say “Aww, don’t worry about it… the government would never let anything happen to them… ” I can’t help thinking that if these were private institutions, they’d basically be insolvent.

Getting my attention this morning is AT&T, which is sitting in the enviable position among its competitors of being the lone carrier for the new 3G iPhone, which Apple will be launching in a few days. If we weren’t in such a bear market, I’d say it’s a no-brainer that people are going to scoop up the new iPhone in droves, causing AT&T to be the on-going benefactor.

CNBC is starting a program on Squawk Box this morning in which McCain’s and Obama’s camps will discuss their economic policies. In other words — the people who tell McCain and Obama what to think and say about their economic policies — actually spill (or spin) where their guys’ stand.

While I long ago tired of all the politico schtick on almost every channel over the past two years regarding presidential candidates — if CNBC delivers what they promise — this could be the best gauge to use in deciding who would make the best president.

After all, it’s STILL the economy, stupid!

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One Response

  1. Hi I didn’t see you write anything on Gov. Patrick in Hull, I saw your video, nice job on that. I asked the Governor a question on my start-up trying to create 3,000 jobs for a new cable tv network. But the main issue is all startupscan’t get capital to hire people, and expand the job base. Email me if you want more info on http://www.HollywoodinBoston.com thanks, Frank

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