Absolutely NO superinvestor recommended buying automakers stocks

Discussion in 'Stocks' started by crgarcia, Jun 8, 2009.

  1. Smart money staid away, so should you:

    Stay away from these gov't/unions owned and (mis)managed crap!
  2. l2tradr


    Kerkorian began buying Ford Motor Company stock in April 2008, and spent about $1 billion to accumulate a 6% stake in the automaker. By October 2008, the investment had lost two thirds of its value, and he began selling. His investment company Tracinda explained, "In light of current economic and market conditions, it sees unique value in the gaming and hospitality and oil and gas industries and has, therefore, decided to reallocate its resources and to focus on those industries."[22] On 21 October, Tracinda sold the 7.3 million Ford shares at an average price of $2.43, and said it planned to cut further its existing 6.1 percent stake in Ford, for a potential total loss of more than half a billion dollars.[23] Kerkorian sold his remaining stake in Ford on December 29, 2008.