Tuesday, May 25, 2010
The Least Helpful Call You Will Receive Today, Guaranteed!
We interrupt the 2010 Pilgrimage to Omaha series to bring you a NotMakingThisUp “Least Helpful Call of the Day.”
The Least Helpful Call you will receive today—and we are fairly certain there has been no less helpful call provided by Wall Street’s Finest this morning—is brought to you by J.P. Morgan Cazenove, whose analysts took it upon themselves to downgrade...the Greek banks.
We are not making this up.
As of this morning, to be specific, shares of the National Bank of Greece no longer merit an “Overweight” rating from the folks at JPMC.
The shares, currently quoted in ADR form at $2.47, within two pennies of their 52-week low, are now officially branded “Underweight” at JPMC.
As always, a tip of the cap from we here at NotMakingThisUp, and on behalf of investors everywhere who may have been holding on for dear life in this one, a hearty “Thanks guys!”
I Am Not Making This Up
© 2010 NotMakingThisUp, LLC
The content contained in this blog represents only the opinions of Mr. Matthews, who also acts as an advisor: clients advised by Mr. Matthews may hold either long or short positions in securities of various companies discussed in the blog based upon Mr. Matthews’ recommendations. This commentary in no way constitutes investment advice, and should never be relied on in making an investment decision, ever. Also, this blog is not a solicitation of business: all inquiries will be ignored. The content herein is intended solely for the entertainment of the reader, and the author.
Posted by Jeff Matthews at 9:54 AM