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IPFS News Link • Economy - Economics USA

GM Files for Bankruptcy

• arclein
GM has bowed to the inevitable and is passing through bankruptcy. I want you to think about that. Six months ago, a portfolio top heavy with financial service companies and GM was about as conservative as you could make an investment portfolio. And the supply was large enough to satisfy all comers. Most of this stock was all lodged in managed pension plans and the like because the managers did not dare show that they were accepting excessive risk. If I had held their positions, I would have been very satisfied following suite. I would have slept well at night and perhaps fretted about that small cap flyer in the discretionary part of the portfolio.

1 Comments in Response to

Comment by Powell Gammill
Entered on:

I am not sad. I am excited. My president has bought me shares in GM and taken it over undoubtedly through shrewed long term planning and clever attention to detail. He has appointed undoubtedly some of the smartest people in the world to operate GM's board. They will undoubtedly turn GM around into such a profit making enterprise that within years my share of GM's national stock will enable the federal government to lower my taxes. Undoubtedly. And if you believe that I have some shares of Chrysler you might be interested in buying..



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