Is Kirk Kerkorian Crazy?

[arealpissedgoy]

Quote from misterno:

Is this guy out of his mind? He keeps buying GM stock and it falls every day every week. He probably lost billions and billions of dollars and he still keeps buying it.

Why is he doing that? Maybe some kind of tax advantage?

under estimated market weakness.

usually he will always get out with a profit because of the "Kerkorian" premium.

ie buy the stock, push the rumor, proof the rumor, hype the facts, sell into the news.

That and maybe he's going senile. Can't control the greed.


Also, we could be under estimating him.

Under Obama, health care will be a federal liability.

A good % of GM's weakness in price is discounting for it's huge retiree benefit payments, which includes good health benefits for its retirees.

If GM doesn't pay those benefits, the stock goes up.

GM is at an operational disadvantage, since all it's competitors are being effectively subsidized by their respective national govts. ( govt. health care )

 

[SCNinvestor]

Quote from AMT4SWA:

He is down about 12 BILLION on his current stock holdings. :eek:

really :eek:

omg...that's really terrible.

that's why I try not to peek my nose too much in these things.

I am just scared to loose to much, including my family

 

[Susannah]

Hasn't Obama as much as said he'll save American automakers and help them to build the cars that are the future?

 

[Mecro]

Quote from arealpissedgoy:


Also, we could be under estimating him.

Under Obama, health care will be a federal liability.

A good % of GM's weakness in price is discounting for it's huge retiree benefit payments, which includes good health benefits for its retirees.

If GM doesn't pay those benefits, the stock goes up.

GM is at an operational disadvantage, since all it's competitors are being effectively subsidized by their respective national govts. ( govt. health care )

GM is still a piece of sh*t company that should have been bankrupt decades ago. You think their revenue has been falling because of healthcare costs or because their product sucks?

I don't even see the sense in waiting for an another government handout, all car sales will decline, so why bother with the worst company. Kirk is letting his ego dictate the trade.

Personally, I don't see why anyone would buy GM stock for an investment.

 

[Allen3]

Quote from Mecro:

GM is still a piece of sh*t company that should have been bankrupt decades ago. You think their revenue has been falling because of healthcare costs or because their product sucks?

I don't even see the sense in waiting for an another government handout, all car sales will decline, so why bother with the worst company. Kirk is letting his ego dictate the trade.

Personally, I don't see why anyone would buy GM stock for an investment.

I've been reading about that for years now. The same sob story about how health care is going to bury them. Except for the media (who wants the universal health care) the average person knows the reason GM is in the tank are the Shit boxes they try to guilt the American people into buying. They have had decades to improve their products and have only given us polished turds. They deserve to go out of business.

So, just like all the other bailouts, we will nationalize a bunch of mentally deficient butt holes. Hurray for America.

 

[Mecro]

Quote from Allen3:

I've been reading about that for years now. The same sob story about how health care is going to bury them. Except for the media (who wants the universal health care) the average person knows the reason GM is in the tank are the Shit boxes they try to guilt the American people into buying. They have had decades to improve their products and have only given us polished turds. They deserve to go out of business.

Ahhh, but you forget the kicker. Check how much money their executives & directors made over those decades. What a racket!

 

[eagle]

Yes, yes…………………, No.

How do you define crazy? If crazy is defined as someone who made a wrong bet and later admit it, then I guess we'll have lots of crazy guys.

 

[buylo]

He has had a hard on for the auto companies for decades. Don't really know why, but it seems a bit obsessive.

The old joke; How do you become a millioniare? Take a billion dollars and buy an airline stock. I believe this applies to American auto makers, too.

 

[dsq]

even the guru's and big fish get suckered by their own bs.Falling in love with a stock and an idea.HAve you seen how the net worth has evaporated of some of these billionaires?adelson,kirkorian,icahn,pickens etc...i d love to see a list of the big losers...Adelson went from 30bil to 3bil as lvs lost 90% of its value...

 

[hughb]

His hardon for car companies is because car companies are notorious for hoarding cash. He was buying up Chrysler back in the 90's because they had a huge amount of cash on the books and he wanted to get it paid out as a dividend. he was unsuccesful in his attempt to get the cash, but if I remember correctly he still made a profit on the stock.