Monday, June 9, 2008


Back in April, I was writing an eulogy about WM, and reviewing a spreadsheet I did back in the Fall 2007.

Here's the link:

Here's the spreadsheet in question taken from that blog for your convenience

And here's what a couple of "late" analyst says about the numbers early today:


By Ari Levy and Linda Shen

June 9 (Bloomberg) -- Washington Mutual Inc. tumbled as much as 14 percent, leading mortgage companies lower in New York trading, after UBS AG analyst Eric Wasserstrom said the Seattle-based lender is underestimating losses on home loans.

Washington Mutual, nicknamed WaMu, will lose about $21.7 billion from mortgages through 2011, more than the $12 billion to $19 billion the company forecasted, Wasserstrom wrote in a report today. He cut his 12-month share price target
to $8.50 from $11.

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