Wednesday, August 20, 2008
I am betting on KOOR
KOOR went up today 4.5% and I am buying. The concern has a long term plan to take over Credit Suisse with a credit line from Goldman Sachs. Already it has accumulated 1% of the stock but sold most of it with 80 million $ profit. Now that the shares are cheaper once more, KOOR is buying again. Credit Suisse's ownership is very diffused, the largest shareholder is Allianz Fund (7.4%). Owning (on credit of course) 10% of the shares, Koor will dominate Credit Suisse. I always liked Swiss people. I wonder why some other guy did not think of this before. Anyway, there we go.