Just bought 22,000 shares of C average fill of $3.96 Holding for up to 5 years. Hoping to net a cool million. ~$45 share. Let's see how this does compared to active trading.
I'd be good with that...I have substantially less, 5k shares, but would welcome the return. Any exciting information to make me feel better about this investment?
My daughter has a friend who came from a very wealthy family. His grand father gave him 20,000 C shares at $3.70 . The grand father purchased 200,000 BAC share at a little bit above $13 (yes, 200,000 shares). He said that he will hold on for a few years. Maybe he knows what he's doing. My daughter is a good girl, she's dating a poor boy but doesn't like this rich boy. She said money doesn't buy happiness!!!!!!!!! I told her being poor doesn't bring happiness either. Good luck. We all need luck.
Why do you need to feel better about it. Downside risk is low. The chance they go bankrupt has passed. The worst is it likely stays range bound and stagnant. More likely, they gain steadily over the next few years. I think the OP will outperform many by making this decision and walking away.
C has been so diluted that at $45 a share C would have a market cap of over a trillion dollars - that will never happen. Even at $10 it would have a market cap around 250 billion which was around its peak market cap during the very height of the debt bubble. So even $10 is a long shot for C unless it does a reverse split like AIG.
The reverse split will come, but of course that won't make anyone any additional money. So many forget the massive dilution that took place. But not only were they diluted, they're also a much smaller company than they were in their prime. Remember all those divisions they closed and subsidiaries they sold off? So to expect a smaller, incredibly diluted company, with still very toxic things hidden deep inside their books that no one understands to give big results is a bit on the dangerous side in my opinion. There are safer things out there.