Cemex is dumping assets and scraping up cash. They've sold plants to a competitor, in a down market, to recoup the plunging losses they've faced with the decline in real estate construction.
In addition, all of our holdings are facing their "TML," or Theta Mutual low. Do we have any other coin stashed under the mattress to buy anything else? Let's pretend the five of us transferred another $20/ea to the Treasurer to purchase another 20 shares of BAC? Doable? Like my friend Bob Ryan said, "Eric, I bought this house in 1974 for $164,000 and people told me I was crazy. Now, it's worth $7 million. Eric, if I told you that you could buy something for $164,000 and in thirty years it would be worth $7 million, would that be something you'd be interested in?"
Anyone else have any better ideas? It's crazy to sit on the sidelines chomping Big League Chew when the real entrepreneurs are throwing every dime they have at these bargain basement deals.
What happens next in OUR world?
6 comments:
Why BAC? Why not put some money into GE and improve our position? They are also at TM lows.
I have to agree with Jimmy C. Let's look at our holdings and decide if there's another one that makes more sense. GE is a possibility but let's keep in mind that GE is just as exposed to financials as BAC and others. I was watching Fast Money this AM and IF there is a possibility for nationalization of a financial, Citi and BAC are at the top of the list as they hold the most "toxic" assets in real estate, etc.
So we're going to ride the pine on this and not make any moves? Does anyone have any original thoughts of their own on the matter or are you gonna plagiarize the whole thing for us. Is that what you do? Go to a bar, recite some fancy passages to impress some girls, - embarrass my friend?
The stock market... is depressing. To see BAC trading at 3.892, is depressing. THe fact that it's trading in the thousandths of decimals, is depressing. The fact that BAC could be trading the same as ESLR if this keeps up.... is depressing.
The fact that Ken Lewis is probably going to buy another million shares at $3, make an annoucement, and sell them on his annoucenment at $6/share, is depressing.
There are my original thoughts. Ok I'm gonna go get a drink.
I have a belly button...
I agree that it is depressing. But i think if we are going to buy more shares of something maybe we should get more GE insteaed of BAC. Hopefully they prosper a little from the stimulus package and all the construction projects that are supposed to happen.
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