Havn't herd any bad news in a while about this stock. Safe to buy now?
safe to buy AIG?
- Thread starter cashmoney69
- Start date
is lack of bad news a convincing reason to buy these days?
hmmm, i better stay on the sidelines then
hmmm, i better stay on the sidelines then
if someone says safe will you buy?
i might think about it, if they're a pro trader and i know, they know what they're talkin about.
I dont know. I'm reluctant to buy a company where the management runs the business into the ground, then when they get help to not go out of business, spend that money on parties and bonuses. But hey....call me crazy for wanting to buy companies where management knows what they are doing and doesnt waste money....
I have a rule that i stay away from ALL companies that Joe Public is speculating in. Like AIG, SIRI, BAC, GM or any other much talked about stock in the news. I learned the hard way as i went long BSC(bear sterns) I bought at 36 dollars on friday, then 2 days later on sunday they announced they were going to sell out to JPM for 2 bucks per share. I got a margin call on monday and sold out at something like 3.50 or 3.80 per share or something like that. Blew out near 80% of my account with that 1 trade as i went in heavy thinking that monday BSC would go back to at least 50. I stopped trading for like 6 months i was so upset. Very expensive lesson. Now that I'm trading again, i've got my account back to where it was before i made that trade and i will never do that again(or if i do, I will go in really small)
I have a rule that i stay away from ALL companies that Joe Public is speculating in. Like AIG, SIRI, BAC, GM or any other much talked about stock in the news. I learned the hard way as i went long BSC(bear sterns) I bought at 36 dollars on friday, then 2 days later on sunday they announced they were going to sell out to JPM for 2 bucks per share. I got a margin call on monday and sold out at something like 3.50 or 3.80 per share or something like that. Blew out near 80% of my account with that 1 trade as i went in heavy thinking that monday BSC would go back to at least 50. I stopped trading for like 6 months i was so upset. Very expensive lesson. Now that I'm trading again, i've got my account back to where it was before i made that trade and i will never do that again(or if i do, I will go in really small)
You're saying your account was down 80% and you've made it back?lol lets say you had 100k and it fell to 20k you'd have to make a 5 fold return to get back to even. All i can say is you must have had a small ass account like 10k-2k to do that or you're a lucky gambling junky.