Re: American Auto Industry

Posted by BH On 2008/10/12 8:25:23

casey rog -

I agree there are some buying opportunities in the market and that GM could be one of them, but it's gonna be a long road back.

However, I doubt if GM will be back to $10 a share withing a week. While the stock IS undervalued, further depressed by panic selling, the company is terribly screwed up.

Also, I don't believe we have seen the last of bank failures, which will further upset the market. I have taken most of my money out of a large multi-state bank (that, over the years, gave me less service as they got bigger) and put it in the hands of a bank that didn't play this sub-prime game.

If you can afford to buy thosuands of shares at a time and can watch the tading all day, you might make thousands, but the turn of an unfriendly card can cost you thousands, too.

Too risky for me. I got out of the market in July, which cost me a couple more thou, but saved me several more in the months since.

A bird in the hand is worth two in the bush.