2003 Posted July 10, 2009 Posted July 10, 2009 I am looking for some stocks to invest in so I have a little coin when I get out of college. The one stock that I am intrigued by is the GM stock. Now, the only thing I know about the stock market is that there is a movie about it with illustrious Charlie Sheen in a starring role. The reasons why I want to buy GM stock are that it is dirt cheap (started @ .88, closed @ 1.15), it will stay alive, and the company is making some wise decisions (i.e. cutting all the crap and keeping the good: Cadillac, Buick, GMC, and Chevy). The reason why I do not want to buy the stock is because I do not know if GMGMQ is the liquidation crap of a company. I thank you for reading this and for your advice!
KD in CA Posted July 10, 2009 Posted July 10, 2009 Based on every car I've rented for the past five years, I would advise you spend it on strippers and booze before investing in GM. You want a two letter stock that starts with G and is still relatively cheap? GE is back under 11.
Lurker Posted July 11, 2009 Posted July 11, 2009 No Wall Street Journal--July 10, 2009: "And what about GMs stock, which has plunged in value over the years? It will soon be worthless." New York Times--July 10, 2009: "G.M. has issued statements telling investors not to buy the shares because they are destined to become worthless."
CosmicBills Posted July 11, 2009 Posted July 11, 2009 I am looking for some stocks to invest in so I have a little coin when I get out of college. The one stock that I am intrigued by is the GM stock. Now, the only thing I know about the stock market is that there is a movie about it with illustrious Charlie Sheen in a starring role. The reasons why I want to buy GM stock are that it is dirt cheap (started @ .88, closed @ 1.15), it will stay alive, and the company is making some wise decisions (i.e. cutting all the crap and keeping the good: Cadillac, Buick, GMC, and Chevy). The reason why I do not want to buy the stock is because I do not know if GMGMQ is the liquidation crap of a company. I thank you for reading this and for your advice! Invest in safer Mutual Funds -- if you're in college, now is a great time to invest because the market sucks but it won't ALWAYS suck. You can buy more for less now and, as long as you're able to leave it in for 20 years or so, it could easily double in value several times over.
drinkTHEkoolaid Posted July 11, 2009 Posted July 11, 2009 I thought we all owned GM stock now lolz... unfortunatly i think you are correct....
/dev/null Posted July 11, 2009 Posted July 11, 2009 lolz... unfortunatly i think you are correct.... I'm usually right And sometimes it sucks being right
Just Jack Posted July 11, 2009 Posted July 11, 2009 I thought we all owned GM stock now Correct, no more tax return $$$, it'll now be paid out in shares of GM.
/dev/null Posted July 11, 2009 Posted July 11, 2009 Correct, no more tax return $$$, it'll now be paid out in shares of GM. IOUs vs Monopoly money
2003 Posted July 11, 2009 Author Posted July 11, 2009 Wall Street Journal--July 10, 2009: "And what about GMs stock, which has plunged in value over the years? It will soon be worthless." New York Times--July 10, 2009: "G.M. has issued statements telling investors not to buy the shares because they are destined to become worthless." Woah... Thank you very much for that information!
H2o Posted July 11, 2009 Posted July 11, 2009 No to GM stock, but I'll throw a couple out there. First, Eastman (EMN). It was up around $70 per share in Sept. '08 and bottomed out in March of this year around $18 per share. It's slowly on the rise again and to almost $36 a share. Ride it out for about 6 months and you will make some money. Cigna (CI) is another company you will earn money on. Their stock plummeted in '08 from up around $60 per share to less than $10 per share. Now the price is back up over $23 and slowly climbing again. It should be back over $40 per share within the next year if it holds true to form. Meadwestvaco (MWV) started to unravel last year in September, falling from just over $28 per share to around $7 per share, but has since climbed back up to around $16 per share. It could very well be into the mid $30's next year at this time. That's just a few for you there friend. Of course, in today's economy, nothing is a sure bet, but I feel pretty safe with these.
2003 Posted July 11, 2009 Author Posted July 11, 2009 No to GM stock, but I'll throw a couple out there. First, Eastman (EMN). It was up around $70 per share in Sept. '08 and bottomed out in March of this year around $18 per share. It's slowly on the rise again and to almost $36 a share. Ride it out for about 6 months and you will make some money. Cigna (CI) is another company you will earn money on. Their stock plummeted in '08 from up around $60 per share to less than $10 per share. Now the price is back up over $23 and slowly climbing again. It should be back over $40 per share within the next year if it holds true to form. Meadwestvaco (MWV) started to unravel last year in September, falling from just over $28 per share to around $7 per share, but has since climbed back up to around $16 per share. It could very well be into the mid $30's next year at this time. That's just a few for you there friend. Of course, in today's economy, nothing is a sure bet, but I feel pretty safe with these. Thank you very much. I will most definitely buy a few of these!
BuffaloBill Posted July 11, 2009 Posted July 11, 2009 I am looking for some stocks to invest in so I have a little coin when I get out of college. The one stock that I am intrigued by is the GM stock. Now, the only thing I know about the stock market is that there is a movie about it with illustrious Charlie Sheen in a starring role. The reasons why I want to buy GM stock are that it is dirt cheap (started @ .88, closed @ 1.15), it will stay alive, and the company is making some wise decisions (i.e. cutting all the crap and keeping the good: Cadillac, Buick, GMC, and Chevy). The reason why I do not want to buy the stock is because I do not know if GMGMQ is the liquidation crap of a company. I thank you for reading this and for your advice! There is a reason for it being so cheap .... institutional investors who have access to far mor analysis techniques and data than you aren't willing to buy it. Also reflective of the fact that the "market" does not have much belief that earnings will come back any time soon. If you seriously want to learn to pick stocks go to the library and sign out books written by several different historically proven stock pickers. They oftern come at it from different ways. You have to settle into a technique and process you are comfortble with. Common threads among them are do not invest with emotion....you can't make the market (or stock) do what you want it to do - you have to buy / sell based on what it is doing, you will be wrong frequently so be willing to admit it and get out of bad positions, get rich quick is a fantasy ..... it will take time and perhaps a bit of luck.
BillsFanNC Posted July 11, 2009 Posted July 11, 2009 No. You shouldn't be in the market buying individual stocks. Stick with mutual funds.
GOBILLS78 Posted July 11, 2009 Posted July 11, 2009 In October, my friend was dead-set on buying GM/Chrysler stock after I asked him for some advice. Not a week later, the dung hit the fan. He didn't do well. And he's in finance! Yike.
KD in CA Posted July 12, 2009 Posted July 12, 2009 In October, my friend was dead-set on buying GM/Chrysler stock after I asked him for some advice. Not a week later, the dung hit the fan. He didn't do well. And he's in finance! Yike. More evidence that most people 'in finance' don't know sh--.
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