Quote:
|
Originally Posted by AutoXer
You did better than I did. I have one of the winners and five of the losers. I am mostly in hi-tech, so with the Nasdaq falling out of favor, I expected it.
I was wondering about GM myself. I don't see how the government is going to let GM fall. Remember Chrysler about 20 years ago when they were on the verge of bankruptcy and how the government bent over backwards to bail them out. I think the same thing will happen with GM.
|
Well, my 7 Dow30 stocks only represent about 20% of my port. I have a few "tech" or tech oriented stocks, a few big cap co.s and lots of under the radar stuff, small to largeish, that get little attention or euphoric press but chug along nicely. And, lotsa cash, cash equivs., some TIPS, TaxFrMunis and other stuff. And, a couple of decent debt-free houses and some real estate. Not crying the blues, not bragging, either and I don't ever miss lunch or look back, woulda shoulda...
The GM debacle could be a MichelleLengthTread here, imo, (no dis to Michelle,
), but, until and unless theOl'Gen can convince rank & file to give up some of their current and future benies, and corp can toss some suits and overhead, and they make some more cars that anyone but pablum retirees care about, it will be a tough row to hoe, new 2009 Camaros or not. FoMoCo is hurting, too. Chrysler is mildy and momentarily euphoric, but the car biz, in
large Mfg'ing Vols, is not a fun biz to be in, imo.
Back at the Ranch, trying my best not to read like a fatherly lecture, my continuing advice and drum beating on this topic over the months, is for you lucky 20,30,40 Sumpins to pack
as much away as you possibly can into your company's "plan", 401K, IRA, Roth, et al. Time is on your side, but only if you pack it away in combination with avoiding that Keeping Up with the ChaoticCreditCharred Joneses syndrome that seems to permeate most of what we do and "want".
I'm not trying to promote Kias over M6s, etc., and most here on this board are, from slight details gleaned to opins gathered from my reading or direct knowledge, doing very, very well.
Alas,
Nothing beats packing dough away in almost any kind of reasonable instrument(s), over time, to secure your financial well being in the future. No One I've ever known, "wins the lotto". So, if one wants some financial security in 10 or 30 yrs, squirrel it away, starting today!
OK..."Dad" will shut up, now. (Not sure how I got on that freaking rant?!
)
NEway, for those with Ballz, GM might be a good bottom feeder play, long with careful watching or maybe some Calls and for those with other Ballz, GOOG might be a brassy short, but your mileage may vary...
GL,md
ShutUp&Deal@FreeAdviceIsWorth?. edu