GM stock
Drifting
Joined: Aug 2007
Posts: 1,924
Likes: 6
Instructor
Joined: May 2003
Posts: 128
Likes: 1
From: Lake Geneva WI
?????? If you buy now and they go chapter 11 and they eventually settle for 20% for their creditors you wil have 20% of your investment. Did I miss something here?
Team Owner
Joined: Aug 1999
Posts: 30,995
Likes: 98
From: Ontario
Saab went down today. Saturn is finished/GM Canada is close to bankruptcy even with government bail-outs/Opel is gone. And you want to buy?
Gordon, I missed something.
Gordon, I missed something.
Last edited by Paul L; Feb 20, 2009 at 07:30 PM.
Melting Slicks
Joined: Jan 2005
Posts: 3,347
Likes: 9
From: Salinas Ca.
Yep... I watched it all day (GM), and I think I'm missn' something too...
Muddy Must admit...sure is tempting
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Team Owner
Joined: Aug 1999
Posts: 30,995
Likes: 98
From: Ontario
Safety Car
Joined: Oct 2004
Posts: 3,725
Likes: 5
From: Minnesota
I rode GM from $45 up to $70 and down to $5. It was considered a blue chip at one time. Now I wouldn't touch what's left of it with a 10 foot pole but considering my past investment strategies why would anyone listen to me. Sadly GM looks pretty much dead.
Instructor
Joined: Apr 2005
Posts: 200
Likes: 0
From: Finksburg Maryland
DO NOT BUY There is nothing tempting about US car manufacturer stocks unless you enjoy losing money. The government will only pump so much money into these companies. They have an inferior product and WILL NOT survive.
Burning Brakes
Joined: Oct 2002
Posts: 1,196
Likes: 47
From: Scarborough Maine Fredericksburg VA
The "tempting" part for me is - do you really believe the government will let them go down?
I am not saying I know what the answer is but it just seems for the 16-18 billion they need the current congress won't let them fail. Maybe the last admin would have but that is a lot of union workers that will lose there jobs and pensions - most of which the government will need to pick up and GM estimates that would cost over $100 billion.
So... if you can buy it under $2 and it does come back in 5 years we may be saying "why didn't I buy it when". It is tempting to take money that is losing ground every day anyway and make this play. NOT money that you need to buy the groceries with but money you have in investments or can afford to lose (if there is such a thing anymore).
I am not saying I know what the answer is but it just seems for the 16-18 billion they need the current congress won't let them fail. Maybe the last admin would have but that is a lot of union workers that will lose there jobs and pensions - most of which the government will need to pick up and GM estimates that would cost over $100 billion.
So... if you can buy it under $2 and it does come back in 5 years we may be saying "why didn't I buy it when". It is tempting to take money that is losing ground every day anyway and make this play. NOT money that you need to buy the groceries with but money you have in investments or can afford to lose (if there is such a thing anymore).
Instructor
Joined: Apr 2005
Posts: 200
Likes: 0
From: Finksburg Maryland
I think its a mistake. If you have money that you aren't worried about losing, there are plenty of other stocks that have been beat up, that will probably be alot higher in 2-3 years. Even if the automakers survive, do you think their stock will rise substantially? I think the damage is done. Nobody is going to have confidence that these companies will be able to turn a profit, which will translate to low share prices. Just my .02 cents.
Racer
Joined: Nov 2008
Posts: 364
Likes: 0
From: Anaheim California
If you buy GM stock you do not have to wait five years but just a few months for bk and loose it all. Ford has a chance and if GM goes bk Ford will benefit greatly because the UAW contract will be broken. Just my opinion but I did stay in a Holiday Inn Express last night. Ed
Melting Slicks
Joined: Jan 2005
Posts: 3,347
Likes: 9
From: Salinas Ca.
Drifting
Joined: Jan 2006
Posts: 1,832
Likes: 38
From: Cedar,BC
Ford might be around in five years time,GM and Chrysler are finished as we know and perhaps fondly remember them.If you are looking to invest,there are plenty of sectors that WILL have a bright future,the automotive industry will improve to murky at best.
Burning Brakes
Joined: Feb 2006
Posts: 1,223
Likes: 4
From: Regina Saskatchewan
If you want to make some money - heres my .02....
Obama is printing money like its going out of style. We are about to go through a huge inflationary period. US deficit is huge and getting bigger every day. Canadian dollar is 20% less than US right now. Soon it will be on par. Buy a good Canadian stock now. When the Canadian dollar is on par , you've made 20% right there. Don't buy GM.
India and So. Korea are good too.
And the housing market won't bottom til 2011. Wait til then to buy a house!
just my .02 - but what do I know.
Obama is printing money like its going out of style. We are about to go through a huge inflationary period. US deficit is huge and getting bigger every day. Canadian dollar is 20% less than US right now. Soon it will be on par. Buy a good Canadian stock now. When the Canadian dollar is on par , you've made 20% right there. Don't buy GM.
India and So. Korea are good too.
And the housing market won't bottom til 2011. Wait til then to buy a house!
just my .02 - but what do I know.