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Merrill Lynch's Very Late Countrywide (CFC) Call |
| Published: August 15, 2007, 9:17 am |
| Tags: analyst calls |
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Merrill Lynch downgraded Countrywide Financial (CFC) to a sell today. It has had a buy on the stock since April 2005, according to Bloomberg. And, investors always thought analysts earned money to be ahead of the news. Countrywide has lost 42% of its value this year as the crisis in sub-prime mortgages has spread to mortgages to homeowners with modest credit. The Merrill analyst who covers the stock wrote ``We cannot understate the importance of liquidity.'' Thank you for that, and for warning shareholders after the company's shares have already collapsed. Douglas A. McIntyre... [ Full article ] |
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