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Nasdaq 52 week Low Tamalpais Bancorp

  • 21-09-2009 11:18am
    #1
    tiptap
    Closed Accounts Posts: 317 ✭✭


    Hi All,

    Am thinking of investing in this crowd on Nasdaq (Tamalpais Bancorp) ticker TAMB.

    Silly Move ?


Comments

  • #2
    Raskolnikov
    Registered Users, Registered Users 2 Posts: 10,148 ✭✭✭✭Raskolnikov


    A quick search of the SEC filings tells me that the FDIC have issued a "Cease and Desist" order against the bank.

    http://www.sec.gov/Archives/edgar/data/1099980/000101905609000906/tamalpais_8ka.htm

    This essentially means that the bank has 60 days to get its affairs in order otherwise they will be taken over (all shareholder value will be wiped out, permanently). In the majority of cases, banks that are slapped with this order are closed.


  • #3
    Idu
    Registered Users, Registered Users 2 Posts: 1,152 ✭✭✭Idu


    Do you just want to invest in it because it's at it's 52 week low? Seems a poor play to me seeing as it continued going down even after most of the worlds financials picked up from mid March on. If you have any info as to why this is a good pick please share it but if you're investing on the fact that its historically cheap then stay away imo

    tamb

    This is Wells Fargo's chart for some comparison

    wfc


  • #4
    tiptap
    Closed Accounts Posts: 317 ✭✭tiptap


    thanks for the info chaps...was looking for something (riskiesh), but obviously not too risky to the point of having to get their books in order within 60 days :-)


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