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ER Forum Members Unite -- We can get rich
07-15-2008, 08:05 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Mar 2006
Location: Houston
Posts: 4,337
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ER Forum Members Unite -- We can get rich
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! 
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
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07-15-2008, 08:17 AM
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#2
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2007
Location: Independence
Posts: 6,635
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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.
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07-15-2008, 08:21 AM
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#3
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Recycles dryer sheets
Join Date: May 2006
Posts: 122
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BAC dividend yield is currently 11.8%. How long can that last?
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07-15-2008, 08:25 AM
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#4
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2007
Location: Independence
Posts: 6,635
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What's 11.8% of diddlysquat?
answer: $0.nada
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07-15-2008, 08:27 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Mar 2006
Location: Houston
Posts: 4,337
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 Quote:
Originally Posted by hogwild
BAC dividend yield is currently 11.8%. How long can that last?
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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.
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
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07-15-2008, 08:30 AM
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#6
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Recycles dryer sheets
Join Date: May 2006
Posts: 122
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Quote:
Originally Posted by calmloki
What's 11.8% of diddlysquat?
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A fraction over "d...."
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07-15-2008, 08:36 AM
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#7
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2007
Location: Independence
Posts: 6,635
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Quote:
Originally Posted by hogwild
A fraction over "d...."
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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"
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07-15-2008, 08:38 AM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: No Country for Old Men
Posts: 47,817
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Quote:
Originally Posted by 2B
I propose we poor our spare change...
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The market being in the toilet isn't bothering you at all, is it? 
__________________
Numbers is hard
Retired in 2005 at age 58, no pension
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07-15-2008, 08:58 AM
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#9
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Thinks s/he gets paid by the post
Join Date: Jan 2008
Posts: 2,020
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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.
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07-15-2008, 09:03 AM
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#10
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
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With our luck the employees would strip all the cabinets, appliances and anything else that could be removed with a pry bar.
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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07-15-2008, 09:13 AM
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#11
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
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Buy TONS of JPM...........Jamie Dimon will own ALL the banks within 3 years.............. 
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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07-15-2008, 09:15 AM
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#12
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Full time employment: Posting here.
Join Date: Jun 2006
Posts: 927
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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.
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07-15-2008, 09:49 AM
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#13
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Thinks s/he gets paid by the post
Join Date: Feb 2004
Posts: 2,670
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I will buy in at 1/2 cent and make you all look like fools.
__________________
No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
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07-15-2008, 09:54 AM
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#14
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2008
Location: No fixed abode
Posts: 8,270
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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
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Anonymous (not Will Rogers or Sam Clemens)
DW and I - FIREd at 50 (7/06), living off assets
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