ER Forum Members Unite -- We can get rich

[2B]

At the current rate of decline, BAC will be at zero sometime next week. I propose we poor our spare change and take the bank private for $0.01/share. We can easily all get rich by selling off the furniture in the lobbies. There even might be enough spare change laying around the teller's cash drawers to make us all millionaires.

Once we get this stash, I figure the entire S&P 500 will be at zero sometime in September. Again, we buy the entire index for nothing.

After that, let's consider the Total Stock Market Index!

[calmloki]

Pfft - i'm an early adopter - already bought some BAC a week or so ago. my honey suggests a novel investing plan: "buying stocks that make money or go up". She doesn't understand - i'm investing under the new paradigm!

Made me look - down 23.98% since purchase. nice to have a gold stock to damp the swings down and make it a more even descent.

[hogwild]

BAC dividend yield is currently 11.8%. How long can that last?

[2B]

Quote:

Originally Posted by hogwild BAC dividend yield is currently 11.8%. How long can that last?

Look again. It's over 13%. About a week ago the CEO said he didn't see any reason to increase capitalization or cut the dividend. He's either correct, a fool or he's selling short because he knows he's lying.

[calmloki]

What's 11.8% of diddlysquat?

answer: $0.nada

[hogwild]

Quote:

Originally Posted by calmloki What's 11.8% of diddlysquat?

A fraction over "d...."

[calmloki]

Quote:

Originally Posted by hogwild A fraction over "d...."

What? new math? a bit less than "d...", though a 13% didvidend makes me feel MUCH better. Now all's right with the world - move along, nothing to see here.


BTW - a bit of a Freudian slip here? "I propose we poor"

[REWahoo]

Quote:

Originally Posted by 2B I propose we poor our spare change...

The market being in the toilet isn't bothering you at all, is it?

[Marquette]

Funny, I was thinking along the same lines, but I was wanting to buy GE. There's something sexy about owning a conglomerate, even if it is a 1900's kind of sexy.

[cute fuzzy bunny]

With our luck the employees would strip all the cabinets, appliances and anything else that could be removed with a pry bar.

[FinanceDude]

Buy TONS of JPM...........Jamie Dimon will own ALL the banks within 3 years..............

[jclarksnakes]

Quote:

Originally Posted by 2B At the current rate of decline, BAC will be at zero sometime next week. I propose we poor our spare change and take the bank private for $0.01/share. We can easily all get rich by selling off the furniture in the lobbies. There even might be enough spare change laying around the teller's cash drawers to make us all millionaires. Once we get this stash, I figure the entire S&P 500 will be at zero sometime in September. Again, we buy the entire index for nothing. After that, let's consider the Total Stock Market Index!

Sounds like a good plan but there will be nobody with any money to buy the furniture.

[retire@40]

I will buy in at 1/2 cent and make you all look like fools.

[harley]

I was in a BAC lobby a few months ago. That is some pretty tacky furniture. I'd prefer one of htose air pressure tube thingies so I can send messages to DW when we're in different rooms in the house. Go Jetsons!

Harley