…Washington Mutual (WM). Oh, I know the rap on WM. The mortgage crisis is not over. There is more blood in the street. The $7 billion in new capital will not save the day and blah, blah blah.

Clear the Clutter

You see there is a lot to clutter your mind with respect to WM, and none of that clutter will do you any good. Instead clear your mind and let the possibilities of the now work their magic. What we know now is what really matters.

With WM, what we know is pretty positive in my opinion. At the top of the list is the capital infusion. The bottom line is if they thought they needed more they would have raised more.In my opinion the bottom in this unprecedented mortgage mess is near. If not near, then it is pretty darn close. Most of the write-offs have been taken, and a new cycle of borrowing and buying is at hand.

What about the recession? What about it I say? Many are predicting that this recession will be quite shallow. Heck if you blink you might miss it. That is why I say to keep the clutter out. It does absolutely no good to worry about something that you cannot control.

Our economy is quite diverse, and it has been proven time and time again that the best time to buy is at the bottom when pessimism is at a peak. Well, both Richard Band and I believe that pessimism is at a peak, and we both say jump on the Washington Mutual bandwagon.

Buddha would be quite clear in his message to us. Buy Washington Mutual and let go of that other nonsense that is filling your mind! It is indeed time to let go!

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