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Well, I just put in my order for Monday for another 200 shares of BAC, and I think that will about do it for me on BAC. Time to put it away and forget its there for 5-10 years (unless Dollydo is right and it hits $20 in the next year). My next moves are to do the same with JPM, FCX and BRK-B, lower my cost basis and put them away for awhile, then maybe make some moves on to some of my smaller cap favorites, NPK, AGNC, CALM. At these prices and yields, you can't go wrong if your long.
Is your name going to change to "losttreasurekidd" in the future? or when you put it away, you truly forget about it.
If one does an indepth analysis of BOA's 10Q, it shows that 4 out of 5 divisions are profitable. The boat anchor is the Countrywide acquisition, to me, a real dumb move.
At one time I owned 3,800 shares of BOA, paid $5.00 (originally Bank of Boston stock, ultimately acquired by the BOA name) a share in the 80's, sold in 2004 or 2006, don't really remember (and too lazy to check it out), anyway sold for $64 a share. The last years I owned the stock it was paying .63 a share, quarterly, the stock was a great money maker.
About 2 years ago, I purchased 1,000 shares at less thsn $6.00 a share, I plan to keep the stock for the long term, when I feel the ROI is in my favor, I will sell.
I feel that the stock will hit $20.00 a share in the next year, my predicition of coarse means nothing.
I am not planning to purchase anymore shares.
Investing in the market is a crap shoot, not for the weak of heart.
If you believe BAC 10Q or any other accounting stories they tell you you need to do some research on the big banks especially BAC. They tend to massage the books just a little. And for the people who say BAC is to big to fail in 08 they were but not today. Times have changed. If you want to trade BAC short the pops, but me I will put my money in a sound company that I feel better about and is a just a little more honest.
If you remember this one thing, that most banking institutions are run by crooks and they are the ones who get most of the blame for our financial crisis we are dealing with today.
If you were ever going to get into BAC this is probably the time. Not sure if I buy the whole 'to big to fail", they could certainly pull a GM and restructure and screw over the share holders.
If you were ever going to get into BAC this is probably the time. Not sure if I buy the whole 'to big to fail", they could certainly pull a GM and restructure and screw over the share holders.
Do you think I should buy more or just hold my shares? It's too late to sell. I think I lost 22% and I bought at $9 and some change. I think it may have further to go down.
Do you think I should buy more or just hold my shares? It's too late to sell. I think I lost 22% and I bought at $9 and some change. I think it may have further to go down.
I don't own BAC but I do own C which is in a similar situation. My view for both are that they are long term holds (3 - 5 years) and you will make money if you are patient. For that reason, I took advantage of the market fall on Friday to average down my position. If the market continues to fall I will average down again.
Consider that 80% of BAC is a good business. The 20% - Countrywide - is a dog and one of the main things holding them back. Once they manage to sort that mess out the shares will start to climb again.
Do you think I should buy more or just hold my shares? It's too late to sell. I think I lost 22% and I bought at $9 and some change. I think it may have further to go down.
Well if you think it is as strong of a company when you bought it at $9 I would buy more. Depending on how much you bought, I dont think 22% is a horrible point to get out if you think it wont do well, at least you get something out of it.
If you want to be aggressive, buy more.
If you are 50/50 on your investment I would keep your stance
I do agree that you need to have a 3-5 year time frame on this minimum, it will either triple in price eventually or go down to $0. Stop checking the ticker daily unless you plan to buy on a dip
Well, I just put in my order for Monday for another 200 shares of BAC, and I think that will about do it for me on BAC. Time to put it away and forget its there for 5-10 years (unless Dollydo is right and it hits $20 in the next year). My next moves are to do the same with JPM, FCX and BRK-B, lower my cost basis and put them away for awhile, then maybe make some moves on to some of my smaller cap favorites, NPK, AGNC, CALM. At these prices and yields, you can't go wrong if your long.
TK man, stop buying BAC
I like averaging down. But BAC is looking like a falling knife.
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