Thursday, September 25, 2008

Couldn't Help Myself!

So I read about how the Detroit just got $25 billion in bailout loans from the government.

Next thing I see is XGM trading at almost the 52-wk low. DUH! 20% yield. Bought it. There's no public outcry about a bailout for the automakers. I didn't expect this would be so easy for them. Downside = none. Do you think Washington will let GM go bankrupt? Upside = 20% for the next 20 years. Only problem is no dividend reinvestment plan.

Bought XGM at $8.93.

0 Comments:

Post a Comment

<< Home