Anyone buying BAC?

Spades

Spades

New member
Mar 19, 2007
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It's at $5.37 and I remember some of you WF'rs picking up a sizable amount of shares at ~ $6.50. Hasn't it been proven that the government won't let them fold? They control far too many assets, right?

I am far from being an experienced investor but it just seems insanely cheap for a stock that has been as high as $54.
 


I've been thinking about it.

I think the regulation laws are still being written, but banks are supposed to be able to fail now, so no I don't think the government will swoop in and protect shareholders if something happens.

I would buy under the assumption that it's possible to lose 100% of the investment.
 
BAC is risky, got a few shares today. Will probably double up if goes to 5 or below, depending on the news and sell if goes down below 4.50. If goes over 5.50 this week, will watch the news and sell if I feel like it. Their next dividend payment is due soon too.
 
I use to do alot of trading, but stopped. I bought in on both Citi (C) for $5k, BOFA (BAC) for $10k and Ford (F). I mean everyone was skuuurd thinking ford was gonna go under, but I didnt think so. I'm doing pretty well right now though. Here's my positions.

- Early Feb 2010; I got in on Citi at around $32 bux.
- I'm in on BAC with $10k at $3.90 avg.
- I got $10k in on Ford (F) @ $2.20 avg

So Citi's not doing all to well, but im stoked on the others. Take my advice tho, stay the fuck away from penny stocks.
 
I'll probably pick up 500 or so shares on their next swing down in the next 2 or 3 days
 
pretty much anything is a long term buy at this point. have decided BAC is a particularly good long term choice myself. also things related to energy and oil. ethanol, etc.

mikeshinobi said:
I remember when I first discovered "oh hey I can invest in the stock market"

I bought some Activision/Blizzard stock because it was a month before Modern Warfare 2 was going to be released, and so of course I thought "Yes, YES, I'll make THOUSANDS!"

So naive :xomunch:
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market doesn't move on fundamentals, just fyi. thinking about things like that is why everyone loses. all you have to ponder is whether the big boys are accumulating or selling a particular stock over a period of time - and get in or out before it makes a move.
 
BAC has a lot of problems, unresolved mortgage issues, and unknown liabilities. Between their stance on Fannie buybacks, the Merrill loss/risk transfers, and even NY & DE fighting a $8.5B settlement as "not enough" - not certain their troubles are even close to over. The problems with BAC is - no one knows their true risk exposure - too much is up in the air.
 
lol I went all in FNM (fannie mae) when it was a $1.03 started climbing to $1.40 where my account was at $45,000 and some change then they got delisted to the otc market and has been sitting .30 cents ever since.... That was suppose to be my lamborgihini fund.....
 
PieceWork said:
BAC has a lot of problems, unresolved mortgage issues, and unknown liabilities. Between their stance on Fannie buybacks, the Merrill loss/risk transfers, and even NY & DE fighting a $8.5B settlement as "not enough" - not certain their troubles are even close to over. The problems with BAC is - no one knows their true risk exposure - too much is up in the air.
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like i said, fundamentals don't control stock prices.
 
If its market valuation falls below $50B then I'll be getting a position in. I brought $DPZ at around $950M the company is now worth $1.83B, and I think its worth $5B so I'm holding onto Dominos Pizza for a while, it's already almost doubled my money in less than a year.
 
jenzkc said:
market doesn't move on fundamentals, just fyi. thinking about things like that is why everyone loses. all you have to ponder is whether the big boys are accumulating or selling a particular stock over a period of time - and get in or out before it makes a move.
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That's exactly why I don't mess with it anymore. It's all about what the few moneymovers decide to do. Bullcrap(yes, I loss money and I'm bitter, lol)
 
Yuckystuff said:
That's very true short term, but market fundamentals still rule long term as long as you have a bankroll like Buffet and can afford to buy entire companies and take them private, or get a preferred position on 5% or more of the company. How hard can that be?
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yea... buffet was probably right with BAC, just a little early like those guys usually are.
 
The best investment would be your own business. If you wanna be scared about it, why put your money in a massive corporation? Just because the companies large, doesnt mean its guaranteed for them to succeed. I think im gonna sell all my shit here soon and just profit; and pour into my biz.

I mean if I get a dollar, I can easily turn it inro 3-4-5. Doing something like that on the stock market takes a shit load of time; unless you flip penny stocks (which is heenky and sketchy as shit). just a thought
 
Dresden14 said:
The best investment would be your own business. If you wanna be scared about it, why put your money in a massive corporation? Just because the companies large, doesnt mean its guaranteed for them to succeed. I think im gonna sell all my shit here soon and just profit; and pour into my biz.

I mean if I get a dollar, I can easily turn it inro 3-4-5. Doing something like that on the stock market takes a shit load of time; unless you flip penny stocks (which is heenky and sketchy as shit). just a thought
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Because CD's don't pay shit anymore and my business cannot utilize 100% of the funds (yes, I am diversifying and scaling.) Stocks can at least keep up with inflation if done right. Anyone else using conservative strategies? Municipal bonds etc?
 
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