Quote:
Originally Posted by lutach
I learn new things everyday  . I like how you think and it's always good to bet on things people need, specially in colder climates.
A pullback will come. People like to take profits and sometimes a panic will happen, but it's just part of the market.
Well, the real story goes deeper, but I'll keep it simple. I had a choice of companies such as BofA, JP Morgan, Goldman Sachs, Wells Fargo and a few other big financial. Out of the big ones out there, which is the cheapest? I think Citi is. If you bought it in RL for $3.50, then you would've been in good shape depending on how many share you bought. Keep in mind, Citi was one of the biggest if not the biggest company at a certain time. Greed is the name of the game and all investors should be greedy. If they want they can push the stock up to the moon. I would love to say more, but it would make me feel bad if what I say turns out to be a bad bet. I go with gut feeling even if the company is the worst in the world. I also don't think the US Gov. likes to loose money. |
Ironic thing to say about someone who is $10T+ in debt, then again, when push comes to shove, I'm very sure in their ability to make things come out as a winner when they need it to. If anything, prolly gives them more incentive for things to come out a plus.
I do share your thoughts on the "when" aspect of it. I know a guy at work who bought C @ $1 a year ago. Had I some more spare cash to gamble with, I would have done the same. However, once it was up to $4 in april and Geithner was releasing the "stress test" results, I would have taken my money and ran (I even half jokingly said this to him when we were talking then.) A yr later and the F'ing stock is still @ $4, while the rest of the market is up 60-70%. He still has that stock and is still waiting for it to do something. Supposedly the gov't is going to try and cash out this yr, and Citi has been selling things off to pay debts, I just couldn't guess what the stock will be like as that happens, and what will remain of the company as it sells off the parts of it anybody else actually wants.
Makes me wonder about the whole Toyota thing as well. Obviously Toyota has made some mistakes, but its not hard to imagine the whole recall and safety controversy isn't being played up to beat down foriegn car makers when the domestics are the weakest they have ever been (excl F,) and the govt overseeing the car safety regs also owns the top competitor, all in the largest car market in the world. GM IPO in 2011 IIRC right?