Putting your money where your mouth is....

[Susantroy1]

I know all you folks on this Fourm have put their hard earned $$$ up for a new Camaro (I know I did). For the most part, I bought because GM has hit a game winning Home-run with the Camaro IMO. But.... It also got me thinking about how much do I realllllllllly believe in GM and the future of this company? also, their ability to restructure this company into a world leader in the automotive industry once again. I did some quick research and found that you can't hardly find a financial adviser that would suggest investing in GM (MTLQQ). I gave it some thought and decided that if I'm willing to buy their product than I should be willing to invest into their company for the long haul. So I bought 375 shares today @ .64 I know its not allot but I figure I could squander that on a weekend mods binge. Soooo hey, if it does run up to 1.28 a share I've doubled my investment. Sorry to say, I really don't think I'll ever see the Camaro give me that kind of return. But it does pay me back in oh so many other different ways. Thanks GM for the Camaro, and I really do believe in what your trying to do by putting my money where my mouth is

[WyteMamba]

what site do u trade on?

[2010 2-Tone]

Nice write up!!!

[PQ]

Can I get shares at Wal-Mart?




I was ever sooooo close to buying 500 shares in May. I didn't. Glad I didn't.

[squat]

Isn't the new GM company closed? I think you bought shares of the 'old gm' - that company now owns all the toxic assets that GM used to own.

I remember reading that GM wants to IPO sometime in the next couple of years...

[Hylton]

Don't confuse those shares with the new GM. 100% of the new GM's shares are owned by The Canadian and US governments, and the UAW. Eventually, they will all divest themselves of ownership but the current stuff on the market is what is left of the old GM and should be considered wallpaper.

[jnewberr2ssrs]

Squat and Hylton are right...This is the old GM and I can tell you that no financial adviser would recommend it

I would not count on this being a long term investment (which is how a portfolio should be designed)...Believe me, I had the same idea about 2 months ago and I bought numerous shares of MTLQQ at about .70 and I held on to them for about 2 weeks and sold them at .90 - after they had gone up to around 1.00 a few days prior...It was a very excellent call on my behalf and I made about 30% which is not bad at all...Shortly after they fell again to around .60-.70 and I felt good about myself for not getting greedy or stupid (which, yes has happened with some other stocks...One of them was AM [a greeting card company] a few months ago that I bought at about 6.00 and then I sold at around 9.00 after it shot up 53% in one day and then started a slight decline...It is now at about 22.00 doh! lol)

Oops...I just noticed that that wasn't the example of me being greedy and stupid that was the example of me jumping the gun lol...Another stock I had was WPT and I bought it at 1.18 and it went all the way up to about 1.90 (yep, about 60% growth) and I held onto it...Subsequently the company was acquired by another company and the stock price fell to about .90 lol....Yep, that's my doh! story haha

But anyway, I'm not saying that there is absolutely no potential - just that you need to keep a very close eye on it and I would limit yourself to about 30% then sell and move on

[Edrock]

Originally Posted by Hylton

Don't confuse those shares with the new GM. 100% of the new GM's shares are owned by The Canadian and US governments, and the UAW. Eventually, they will all divest themselves of ownership but the current stuff on the market is what is left of the old GM and should be considered wallpaper.

Doh!

[squat]

Originally Posted by jnewberr2ssrs

To my knowledge, squat is right...

I would not count on this being a long term investment (which is how a portfolio should be designed)...Believe me, I had the same idea about 2 months ago and I bought numerous shares of MTLQQ at about .70 and I held on to them for about 2 weeks and sold them at .90 - after they had gone up to around 1.00 a few days prior...It was a very excellent call on my behalf and I made about 30% which is not bad at all...Shortly after they fell again to around .60-.70 and I felt good about myself for not getting greedy and stupid (which, yes has happened with some other stocks...One of them was AM [a greeting card company] a few months ago that I bought at about 6.00 and then I sold at around 9.00 after it shot up 53% in one day and then started a slight decline...It is now at about 22.00 doh! lol)

Heh, don't ever feel bad about making money in the market. I bought Apple at 88 and sold it at 92. I like to kick myself sometimes for that one but all in all I still made money.

[CyberGreg]

Nice write up on "Too Tall".

[UncleBenny]

Yeah, I wouldn't be buying that MTLQQ stock unless you're planning on unloading it for a profit in the near future. In the long run, it's worth nothing.

[nova]

Originally Posted by Hylton

Don't confuse those shares with the new GM. 100% of the new GM's shares are owned by The Canadian and US governments, and the UAW. Eventually, they will all divest themselves of ownership but the current stuff on the market is what is left of the old GM and should be considered wallpaper.

Yep, you just wasted $250 on something worth a little less than used toilet paper. You may as well get it issued in paper stock certificates so you can wipe your a$$ with it.

You basically bought 375 shares of all the shit the "new" GM didn't want, namely debt and decaying factories.

The only reason its even trading @ 64 cents a share right now is institutions shorted the hell out of it until the SEC clamped down on "naked" shorts forcing them to buy positions to cover the shorts which drove the price up.

[nova]

Originally Posted by jnewberr2ssrs

One of them was AM [a greeting card company] a few months ago that I bought at about 6.00 and then I sold at around 9.00 after it shot up 53% in one day and then started a slight decline...It is now at about 22.00 doh! lol)

Money may be left on the table, but nobody ever "lost" money in profit taking.

[UncleBenny]

Originally Posted by jnewberr2ssrs

I would not count on this being a long term investment (which is how a portfolio should be designed)...Believe me, I had the same idea about 2 months ago and I bought numerous shares of MTLQQ at about .70 and I held on to them for about 2 weeks and sold them at .90 - after they had gone up to around 1.00 a few days prior...It was a very excellent call on my behalf and I made about 30% which is not bad at all...Shortly after they fell again to around .60-.70 and I felt good about myself for not getting greedy or stupid (which, yes has happened with some other stocks...One of them was AM [a greeting card company] a few months ago that I bought at about 6.00 and then I sold at around 9.00 after it shot up 53% in one day and then started a slight decline...It is now at about 22.00 doh! lol)

Haha, I've been doing a lot of face palming lately. Bought Goodyear Tire and Cooper tire early in the year, and sold them for something like a 30% profit...but if I would have held on I could have tripled up on them. Could have done the same with Sirius XM. Whatever, like you said you can't get greedy, I take my profits and move on. I'm too young to be a long term investor just yet haha, that's what my 401k is for.