Financials: 2006 & 2007 Evaporated (Marc_In_Oregon)

Description:

Who needs 52-week lows when we have YE: Years Evaporating.

These are stocks that closed below the price they closed at on the first day of trading in 2006. Some are about where they opened the first day of 2005.

All share price gains since then have been wiped out. It's as if the mortgage meltdown morass never happened...and for that matter as if the last 20 months didn't happen.

All of these are buys...after we truly hit bottom, which I'm defining as after banks and brokers take large one-time charges for mark-to-market losses and for shrinking their mortgage businesses, and after analysts revise earnings down.

Although...it's interesting to look at the earnings that today's prices imply. I used multiples from April 25th (the first day the DOW closed over 13,000) to calculate the implied eps using closing prices on August 17th. Lots of EPS cuts have been factored in; we won't know for sure what the companies project until the next round of 10Qs.

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