AIG - my parents bought at $58

Discussion in 'Stocks' started by acarter, Sep 17, 2008.

  1. acarter


    Hi there,

    My parents bought 2000 shares of AIG at $58 and 1000 shares of BAC at $39 in 2005. In July when it was around $20 with all this news on TV I was wondering if they need to sell but it went back to $25. My parents said no worry it's a long term investment.

    Now it's $2 and I do realize that it may take a while for us to recover our losses, but my parents seems upset now and my mom is blaming my dad. I don't want to question them and make things worse, but just curious what's going to happen to AIG? Is it going to end up like Fannie Mae now that the government has 80% stake? What do you think my parents should do now?

    What about BAC? Do you think I should tell them to sell?