Tuesday, May 5, 2009

Regrets I've had a few: Coulda doubled my money in a month

Bad case of bloggarrhea today. Anyway, I mused on March 8th about buying a basket of bargain financial stocks as an investment in the government's unwillingness to let the whole system fail. At the time, 1 share each of Wachovia, AIG, ING and Citigroup would have cost a grand total of $9.27.

Well since, then my Wachovia stock would have been rendered into cash, and plowed into shares of the bank's new owner, Wells Fargo. That is, I would have pooled the profit from the Wachovia sale to buy Wells Fargo stock, which was a stronger investment.

In any case, after two months this "bargain basket" would be worth $20.03 for one shared each. Even after I deducted for fees, I'd still have had a profit, and with a decent investment, I'd have doubled my money. Oh well. Maybe it's not too late?


Ryan said...

of course... this is fascism.

Quriltai said...

Huh? I don't follow....