Quote:
Originally Posted by ErikLS2
I'm thinking about gambling a little on Bank of America (BAC). It's been very low for a while and like Buffet says, there's no way to know WHEN a stock will rebound, but I can't see them going away totally. Plus, when everyone is fearful of something is the best time to buy it.
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If you can afford to buy and hold... I agree with you. I think we can agree that the likelihood of BAC going away is pretty much NADA.... and it's certainly LOW (historically).
Those that bought FORD @ $2 or $3 a share certainly have been rewarded!
But also don't forget that if you were a GM shareholder -- you got ZIP -- So size and the "they've been around forever" statement has been shown to not hold up so well...
I mean - Who'd a thunk it!?!?
Just make sure when you put in SPECULATIVE $$$ -- that that is exactly what that money is for... because regardless of how low a stock has gone - it can always go lower! So you'll have to be patient and it should only be money you can truly afford to loose. Everyone should have a fund for buys like this.... provided they account for all the above and already have good safe money - and cash that they can get should they need some. That way you don't get frightened and sell out..... 'cause the little wall street dude will double it a week after you sell.
Did I ever mention how much I hate that little guy??
