Subscribe!
Who is John Mugarian? What is Dynamic Growth? Customer Service Contact Home
The Journal Reports Questions and Answers Newsletter Portfolio Links


« What the Dell ! | Main | Get a job, any job, to pay the rent! »

Countrywide Financial's CEO warns investors

The April 2nd Newsletter Briefing is posted to the newsletter portion of the website. The Fidelity Sector Fund and ETF portfolio's are now showing. To access the newsletter, simply click on the "Subscribe Now" tab, establish a username and password, and you'll have full access to the Dynamic Growth newsletter and portfolio. This free trial will end on June 1, 2007.

The guest host on CNBC this morning was Countrywide Financial's CEO, Angelo Mozilo. Mozilo warned that the woes of the subprime mortgage crisis would eventually have an effect on the consumer, and consumer spending.

Mozilo said that consumers have been using their home equity as ATM machines, and that cash has dried up.

Mozilo is not just talking, he is acting on his convictions too. Mozilo continues to unload large blocks of CFC's stock.

showchart.php.png


I don't mind if Mr. Mozilo takes his chips off the table. At least the guy has the guts to come out and tell everyone that the problem is bigger than what we are led to believe.

Sell Angelo, Sell ! As long as you're honest and upfront, I don't have a problem with it. What about all the squirels at Google? What's their excuse? What to buy another jumbo jet or what? No comment, huh?

What about the rest of you guys who are selling? Mums the word, right? Here's a small list;

TYSON FOODS (TSN): Don Tyson and partnerships.
AIG: "Hankie Panky" Maurice Greenberg
KOHLS (KSS)
MICROSOFT (MSFT)
CABELAS (CAB)
WEYERHAEUSER (WY)
CISCO (CSCO)
FEDERATED DEPARTMENT STORES (FD)
URBAN OUTFITTERS (URBN)

Disclaimer—This is for informational purposes only and is in no way a solicitation or an offer to sell securities. I am a registered investment advisor, but only provide solicited advice to clients of our firm in states where we are registered or where an exemption or exclusion from such registration exists. nothing on this website should be interpreted to state or imply that past results are any indication of future performance. carefully assess your own risk tolerance and goals before investing.