September 14th, 2007


UK - nice time to buy Northern Rock?

For those back home in the UK, you may be aware of the whole Northern Rock thing. Their stock dropped 30% today - and it had already been dropping over the last six months.

Ironically, now looks like it would be a good time to consider buying. There is no reason to think that they will be going bust in the same way American Mortgage did. Their P/E ratio is below 5. They are backed by the Bank of England. What more could you ask for?