BACk that Ass Up! - Patricks Pick for Q1 09 investment

Fellas, it's that time of the year again where we dish out picks and choose those that will go on to be ThetaMutual strongholds.  Sometimes you have to look at your own portfolio and especially in a time like this look for those with the greatest value.  Looking through our portfolio, I can't help but say that I think we need to add to our position in Bank of America (BAC).  Think about it - this is a bank that can't fail, it's recent fall in price is most likely attributed to the completion of the acquisition of Merrill Lynch - but we need to look at the glass half full... that acqusition is even more of a reason why the US would never allow BAC to fail, it's now one of the worlds largest banks - but also owns an astounding percentage of US mortgages, in addition to another one of the best brand names in banking with Merrill Lynch.

We currently don't have a strong position in BAC, and our average price I believe is around $19.  By jumping in at current prices ($14.30), we stand to average down our price significantly and be poised for even greater returns by the end of 2009.  My motion is to invest between 25-40% of our dues into BAC, with an expected target price of $29/share - a piece of cake.

Jim, just transferred my quarterly dues over to you, see you guys on Sunday - I'm sure mikey will have tons of food and drink and strippers for everyone!

"I read this article a while back, that said that Microsoft employs more millionaire secretary's that any other company in the world. They took stock options over Christmas bonuses. It was a good move. I remember there was this picture, of one of the groundskeepers next to his Ferrari. Blew my mind. you see shit like that, and it just plants seeds, makes you think its possible, even easy. And then you turn on the TV, and there's just more of it. The $87 Million lottery winner, that kid actor that just made 20 million o his last movie, that internet stock that shot through the roof, you could have made millions if you had just gotten in early, and that's exactly what I wanted to do: get in. I didn't want to be an innovator any more, i just wanted to make the quick and easy buck, i just wanted in. The Notorious BIG said it best: "Either you're slingin' crack-rock, or you've got a wicked jump-shot." Nobody wants to work for it anymore. There's no honor in taking that after school job at Mickey Dee's, honor's in the dollar, kid. So I went the white boy way of slinging crack-rock: I became a stock broker"