Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I'm in my early 50s & new to investing. Just a while ago a friend was urging me to buy 1000 shares of Bank of America (we reside in Charlotte NC) when it was $13 ("Hey, it's a bargain at that price, it'll bounce back in the next year, you might triple your money!!") Well, decided to wait till BOFA went to $10 but held back even then. Good thing I didn't buy at that price! -- News broke yesterday about problems with Merrill Lynch transition & BOFA asking for more federal TARP money so today the price dropped to almost $7 before recovering just above $8! (over 70% lower than ytd)
Whaddya think-- should I go for it if BOFA goes all the way down to bargain rate $5 or $6? (I have $10,000 - $15,000 to invest & won't need that money for over 10 yrs.)
OR IS BOFA ABOUT TO IMPLODE????!!!!!!!!!!!!!!!!
(I'm new to this message board & hope this type of question is OK here!)
I'd invest in a much more ethical bank than Bank of America.
I have my checking and savings account with them but I'm seriously looking around for a new bank.
I would not invest in BoA now but they are a good stock to trade right now. Personaly I would stay away from most financials. They are still all screwed up.
I'm in my early 50s & new to investing. Just a while ago a friend was urging me to buy 1000 shares of Bank of America (we reside in Charlotte NC) when it was $13 ("Hey, it's a bargain at that price, it'll bounce back in the next year, you might triple your money!!") Well, decided to wait till BOFA went to $10 but held back even then. Good thing I didn't buy at that price! -- News broke yesterday about problems with Merrill Lynch transition & BOFA asking for more federal TARP money so today the price dropped to almost $7 before recovering just above $8! (over 70% lower than ytd)
Whaddya think-- should I go for it if BOFA goes all the way down to bargain rate $5 or $6? (I have $10,000 - $15,000 to invest & won't need that money for over 10 yrs.)
OR IS BOFA ABOUT TO IMPLODE????!!!!!!!!!!!!!!!!
(I'm new to this message board & hope this type of question is OK here!)
At one time around 1995 I could have bought Apple stock for around $7.00 a share I almost bought $70,000.00 worth. About a year ago that Apple stock would have been worth 1.3 million dollars. I could kick my bosses @ss for talking me out of buying it. I don't know what it's worth today tho.
I use BAC and I think they will survive this problem but it will be a while. With that said, in August I bought at 34, which was a 2 year low. Things got worse and in December I bought again at 14. My hands are bleeding ("never try to catch a falling knife")but Im inclined to buy again at 7...its only 100 shares or so each time so its not huge money. I can stand to hold for a few years. But I'm waiting until Feb/March or it gets to 7500 to buy more.
I have purchased other stocks like this over the last 6 months, after having a fair amount of cash in my portfolio...FCX, F, GE, MMM, KMP, COP.
I dont think it would hurt to buy a couple hundred shares. But I wouldnt put all your eggs in financials.
I see more promise in Wells Fargo, however I would still stay away from the financials, I think we are going to see one more file bankruptcy, no idea which one though. Citi is also unbelievably cheap, but it's too risky.
At one time around 1995 I could have bought Apple stock for around $7.00 a share I almost bought $70,000.00 worth. About a year ago that Apple stock would have been worth 1.3 million dollars. I could kick my bosses @ss for talking me out of buying it. I don't know what it's worth today tho.
It's all a gamble.
If you makes you feel better, do you really think you wold have kept it when it hit $9...$10...or even $15? So to think you would have 1.3 million if you would have just done it, isn't quite accurate unless you turned off the tv and the net. It's about $82 right now.
If you makes you feel better, do you really think you wold have kept it when it hit $9...$10...or even $15? So to think you would have 1.3 million if you would have just done it, isn't quite accurate unless you turned off the tv and the net. It's about $82 right now.
Good point. It's interesting how different a chart looks over a long time span versus a short time span. Shorter charts are usually much more volatile. That rise in Apple over 25 years was not a smooth constant climb. There were plenty of pullbacks and sell signals along the way. Unless one is an absolute buy and hold investor, one probably wouldn't have stayed on the whole way.
But before any BnH guys start crowing, I might point out what happened to those who stayed on the whole way with others like Lehman or AIG.
If you makes you feel better, do you really think you wold have kept it when it hit $9...$10...or even $15? So to think you would have 1.3 million if you would have just done it, isn't quite accurate unless you turned off the tv and the net. It's about $82 right now.
If it doubled I would have sold half of it and would have held on to 5,000 shares. That way I would have my original investment back
And heck even at $82 a share that would still be $820,000.00. not bad for a 70 grand investment...LOL... but I didn't..
Would any one here buy 2000 shares of GM if it goes lower? Say to a round $2 a share.
I thought about buying a 1000 shares of Ford at $4 but didn't. I see it's down to $2.40 if that's correct.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
-- News broke yesterday about problems with Merrill Lynch transition & BOFA asking for more federal TARP money so today the price dropped to almost $7 before recovering just above $8! (over 70% lower than ytd)
