If I were a prosecutor I’d be thanking Al Gore for inventing the internet and email (I don’t know if Mr. Vice President claimed the email invention, but without the internet there is no email). Especially email, because now you can amass evidence of wrongdoing in a very searchable and easy-to-use format. TheStreet.com has dug…
May 31, 2007 – The Motley Fool
Investors love certainty. Their affection for uncertainty ranks with their fondness for a visit to the dentist for a root canal on Christmas Day.
However, great investment opportunities are created when certainty takes a vacation. In the case of First Marblehead (NYSE: FMD), certainty took an extended sabbatical. The stock dropped over 20% when two of its largest customers — JPMorgan Chase (NYSE: JPM) and Bank of America (NYSE: BAC), together representing roughly 44% of sales — announced with a private equity firm their intention to buy Sallie Mae (NYSE: SLM), First Marblehead’s largest competitor. Uncertainty brings fear, which in turn brings opportunity — First Marblehead is trading at about eight to nine times earnings!