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I read
this about a month back. BSC has dropped another 40 points since then and the price to book value is looking pretty low. I am very new to investing and was looking for some insight. My main investment thesis is a contrarian one where people are overreacting to a setback of an established and strong financial. Help me poke some holes in this buy idea.
As an aside, there is a good article on firing Spector on page 1 of wsj found
here It's free.
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It
was an established and strong financial.
And where are you getting that book value from? Does it include the impact of their cratered hedge funds? Does it reflect the true marked-to-market value of any garbage paper they may be holding?