Thread: Why I am buying Ford and GM...
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- Join Date
- Sep 2008
- Location
- Southaven
- Posts
- 98
11-11-2008, 07:26 PM
If you want to speculate on the auto industry bailout, I would buy their corporate bonds instead. You can get GM bonds for about 20 cents on the dollar... yielding about 35%. Ford's bonds are about 40 cents on the dollar, yielding about 20% or so.
That way if they do go into bankruptcy you will probably get some money back. Common stock holders will be screwed.
Jerry
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At least once every human should have to run for his life, to teach him that milk does not come from supermarkets, that safety does not come from policemen, that news is not something that happens to other people. ~ Robert Heinlein
You Say The Battle Is Over
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11-11-2008, 11:02 PM
I've got some preferred stock (symbol F-a) and getting a great yield. Problem is the broker sold them at about $18 a share, now about $7 a share. So the yield hasn't begun to cover my losses. Perhaps I should buy more now, as will getting that greyt yield w/o the larger investment.
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- Join Date
- May 2008
- Posts
- 11,970
11-12-2008, 01:35 AM
Uncle Sam is going to be in for a great surprise after millions of taxpayers take credit for Capital losses of $3k on their Fed. Income Tax return this year and following years.
I think I will stay in all cash for the next 9 to 12 months. Maybe dabble in a natural gas ETF if we have a cold winter.
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