Getting Out of FNFG Today
Taking my loss on my FNFG position (400 shares) and moving on today. I didn’t like this as a “trade” as soon as a place it. I do consider this a long term hold. I will hold in my trading account as a solid regional player who could be in the catbird seat if the banking sector makes a full turn.
Upon a turn, I would expect some consolidation. A stock deal of a strong regional for one of the “big banks” could help their ratios and would not be dilutive if the deal is right. When banks get back to being banks and leave the CDS and MBS business to “investment banks” deals should come along.
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