Time to load up on discount: LEND SAY

Wall street had another bad Tuesday. I took measured dip. Where? In the middle of chaos of Sub-prime meltdown. I bought 100 shares of ACCREDITED HOME (LEND) as it was mouthwatering discount sale going on. I got a price of 4.04. A very small investment - balancing the small amount to the big risk that I am taking. I don't mind losing 200-300, but I hope to make some quick bucks in next week - as market stabilizes and investors try to go for asset sales. I discounted value of their portfolio is more than the market valuation. May be even double my investment.

While there, I also loaded up 100 Satyam (SAY) at 21.44. This is a longer term buy and I am looking to hold it for the next one year. I wanted to buy some Indian Outsourcing stock. I gave up on Accenture as it have less organizational leverage than pure Indian firms. SAY seemed the cheapest one of the top firms. Another reason was a recent upgrade and rise to 39. The position size gives me an opportunity to add more if there is another 10-15% drop in the price with no change to fundamentals.

I think 60-70% of the selling is already done. We may still go below 11900, but if you are looking long term this is a good position to start buying.