Cascade Bancorp just seems to be in the wind these days.
I've never paid attention to a single stock before, but I doubt most stocks experience the gyrations that I've observed with CACB over the last month or two. It appears to me that there has been a real effort to prop up the stock everytime it falls below a certain level -- or perhaps it's just people picking up what they think is a bargain.
I've already commented on the Heads I Win, Tails You Lose bet that the big investors seem to be making.
Anyway, Linda and I were renting a storage unit recently, and out of the blue the owner mentioned that he and a friend were planning to "invest in Bank of the Cascades."
"Really?" I exclaimed. We talked about it for awhile, and shrugged it off as a relatively cheap risk.
That's example 1.)
I've had a bit of a bet with a friend for a couple of months or so; I told him that I thought a couple of the local institutions would be taken over by the FDIC before the end of the year. If both happen, he owes me a CD. If neither happens, I owe him a CD. If only one happens, we break even.
Yes, CACB is one of them. I know, I know. I'm an SOB for betting against a local bank. Sorry.
Anyway, he came in the store the other day laughing.
"What are you doing? Are you talking down Bank of the Cascades on your Blog?"
"Well, I talk about it occasionally," I admitted. "Why?"
"Because it's in the news all the time!"
(P.S. With the FDIC giving the bank another 60 day warning, I think I'm going to lose the bet -- technically.)
Finally, Linda and I went to see our financial adviser yesterday, and he was explaining his strategy for investing, and he said, "Say you wanted to invest in Cascade Bancorp...."
Linda just looked at me, and we both started laughing.
"O.K. O.K.," he joins us. "That may be the wrong example...."
Anyway, all these events were more or less spontaneous, unprompted by me.
So it's in the wind....for what it's worth.
1 day ago