Bank of Ireland (Gov & Co) (IRE) Buy, Sell or…

Bank of Ireland (Gov & Co) (IRE)

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He had a 10 bagger with it some time ago. A lot of people say it is a tremendous turn-around story and it is on his radar screen.

COMMENT

Had a stock consolidation of 10 to 1. Has gone way down in value because of the consolidation. If you own, consider using it for tax loss selling.

RISKY

People often look at tax loss selling at this time of year. Is a high-risk position. You have to think that you will possibly loose all the money you invested but if you keep it and it turns around it could be a 10 bagger. He has a top pick tonight in a similar ballpark.

DON'T BUY

On the brink of insolvency. If you buy this you are speculating on a bailout. Irish economy won't allow them to grow loans on the books.

DON'T BUY

They all imploded. The government had to take over a huge chunk just to keep it surviving. Irish economy is still in poor shape. So many new shares issued that they will not come back to a fraction of where they were. No interest.

DON'T BUY

You think of this kind of stock from a trading perspective and not a holding perspective. It is a distressed situation. If you have risk tolerance.

DON'T BUY

If you want to play this, he would suggest you buy Fairfax Financial (FFH-T), which was one of the companies that bought into this bank to help refinance. They have a lot of other investments that would offset this if it didn't work out.

RISKY

Up 42% today. Passing the stress test is not equivalent to turning the corner. For people who are willing to risk all of their capital it could be worth it – 10 bagger.

BUY

Doesn’t think it will be nationalized. Have done a lot to shore up their balance sheet. They have an opportunity to work out their issues. It’s the economy that has to turn around and then they will do well. Ireland is a great company because they have a young workforce, low taxes. This will be dead money for 3 or 4 years. Build a position over a period of time.

DON'T BUY

If you play this you have to be prepared to lose everything. They are looking to convert some of their debt into equity. Has NBG-N.

DON'T BUY

Just recently sold the last of his holdings. He was worried that the new Irish government might nationalize this. Government gave them 2 months to raise money so it is a high risk proposition. If you are willing to gamble it could have another run. High risk.

COMMENT

Just sold the last of his holdings. He was nervous of what the new government might do. Shares stopped trading but have started again today. Have to raise a certain amount of money by June to remain listed.

WEAK BUY

Out of all of the banks in Ireland, this would be the best one to own. Ireland has varied work forces, low tax rate and an economy that will start to grow again. He core business will continue to grow. Once that is solved, IRE will do well. He would prefer Lloyd’s. It would be at least another year before you see anything with IRE.

DON'T BUY

Irish banks have had a really tough time. The situation is very tenuous in Ireland. New government wants to renegotiate the terms of the bailout. So the question is now this negotiation is going to end up. Wonders if one of the things that is sacrificed is the shareholders.

RISKY

He played it twice. Early on in the melt down and then 31 days after and had a 10 bagger and sold half, but it was too soon. It could get nationalized and investors get nothing or have an incredible run. He is content with the position.

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Bank of Ireland (Gov & Co) (IRE)