Open Question
My buddy went out and bought some Freddie Mac a couple of weeks ago. Was I
wrong or right when I told him to sell it? He thinks the stock will be OK if the
gov. steps in. I told him the common was gonna get washed out to nothing. Which
way is it gonna go?
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I think long term investors and smart money bailed from FNM&FRE long ago. The
only people left in the common stock are gamblers betting on a dumb money
bounce. ed
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if the govt "steps in", that is, if it socializes/buys FRE, then the
shareholders get nothing, and the stock goes to zero. If the govt does not
socialize FRE, the stock has a slight chance to recover, never quite reaching
all the way down to zero.
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I had a friend once who bought SIRI in hopes that it would see a nice pop on a
merger with XM. Didn't happen. Now he has a $1.30 stock. Good thing I (I mean
my friend) didn't buy too many shares! Sorry dartboard, I couldn't resist.
I have no answer to your question, but personally I would stay away.
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I think I'm going to get a cat scan...I find myself agreeing with blah-blah and
Peter more often than I am comfortable with. LOL
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This bigger question is - doesn't he have something better to do with his money
than buy lottery tickets?
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