Losing my shirt on BAC
I’m down about 40% on Bank of America. Stupid %$#@! subprime mess!! 
They should have backed out of the Countrywide mortgage deal. *sigh*.
I keep telling myself that it will come back. Should have bought some puts when I first opened my position. I darn well shouldn’t have kept doubling down every time the stock plunged.
But I keep telling myself that BAC is the largest bank in the country and it isn’t going anywhere. It’s got a big fat dividend (yield is up over 8% now because the stock price plunged). The Ken Fisher says the dividend is safe. So I’ve got some downside protection.
I’ll just collect my dividend and play the waiting game I guess
June 13th, 2008 at 11:01 am
We have been looking at BAC for a while and keep wondering where the bottom is. It seems like a good stock to buy and hold for the long term. Although so did GE.
June 13th, 2008 at 9:19 pm
Heh Heh. Well if you do find the bottom, could you let me know? This thing has hit rock bottom and has started to dig!