I put my money where my mouth is...........

Bought 2000 shares of GM stock for $2.60 per share today.

My $5200 investment should be worth 10X that($52,000) in a couple of months once the bail out is approved in January next year.

Edited by Superglide Ken - 19/November/2008 at 4:22pm

I agree. Let them sink. You can't pay $75 an hour to people when Toyota pays $35.

I dunno if they're gonna get the money or not. Saw today where 3 big high honchos flew in to the meeting to discuss this. All 3 flew in 3 separate private jet liners. One of the guys on the panel asked them "why could you not jet pool?" LOL
Then said to them "If you're so concerned about cut backs and saving money, why did you guys show up here like that?"

Bunch of schmucks!!!


Edited by Mark McMaster - 19/November/2008 at 8:07pm

High Risk=High Reward when things go the way you want them to go. GM is just too risky for my liking. Either that stock is going to soar or it's going to plummet. Ford said even if they don't get the bailout they should be able to pull through, but just barely. If GM doesn't get it there is a chance they could pull through, but it's unlikely. Funny thing about Chrystler is the former CEO (Iacocca) lives where I do.

About a month or so ago I invested in Las Vegas Sands (LVS). The stock was down at around $6.50 a share when I first started to look into investing in it. Then it kept going down and for whatever reason I bought at $4.95 a share. The next day it went down to $4.34 a share in the morning when the market opened. I went away and checked it at lunch and it was up to $8.60 a share. For the next few days it rallied to almost $16 a share. I bailed out when it got down to near $13 a share, and am glad I did. They had to reraise capital and the stock plummeted again. Last I checked the stock was trading at about $5 a share, and this is after they raised almost $2 billion in capital from issuing more common stock.

Without a doubt the market is volatile and just about anything goes. Just when you think you reached the bottom, something new comes up to let you know you still haven't reached the bottom. Just wait, credit cards and people defaulting on students loans will be the next round to screw up the market. I even saw on CNBC yesterday that they are speculating home builders could be the next to be bailed out.

You do know the vote in the Senate was called off due to lack of support, right?  And the House will not act out of respect to the Senate.

Well, back to my corporate jet.  Pleading my case to the senate tomorrow for $25 Billion to buy wand glides.

The time to buy is when everyone else is selling. It is not human nature to do that, but if you can control your fear, you WILL make money.

It works for Warren Buffet, and it works for me too.