GM 11 years ago, The irony of ironies.

"So far, investors aren't alarmed. Delighted with GM's record profits last year and enamored of its current $4 billion stock buyback, Wall Street has recently been pushing GM shares to all-time highs of $74.25. However, says Lehman Brothers Inc. analyst Joseph Phillippi: "If you look at the trees instead of the forest, this stock should probably be about 60."


Lehman is gone and GM will be gone as well. Talk about Ironic.


http://www.businessweek.com/archives/1998/b3570075.arc.htm

 

Back in 2003 I was all hammered up in Cancun and i was telling anyone who would listen that GM was screwed and everyone should be short it at around $35, and maybe sell the odd put against the short

No one want to listen though

 

No one wanted financial advice from a drunk guy in Cancun? Go figure?

 

I go to cancun for the best stock tips.

so how much did you make on that short from 35?

 

I have bigger fish to fry than shorting some SEC regulated stock. I just wanted people to get out of it more than anyhing

 

GM will not be gone.

 

Unfortunately this is going to ruin one of my best strategies for outperforming the S&P - buy the other 499 stocks in the index, and avoid GM.

 

Here's the latest on GM from the NY TIMES

http://www.nytimes.com/2009/05/03/business/03auto.html