Ever the gunslinger….

Posted on Jun 02, 2009 by in Letters

True to our heritage as motorcycle riding, bull running, bungee jumping, hang gliding, fire walking adverturers we bought another lottery ticket this morning.  You can now buy the new GM as GMGMQ.  We bought 1000 shares for $637.  If this is stupid it's not stupid enough to  hurt and if it works our egos will will be sufficiently full of hot air to take us hot air ballooning without the balloon.  Readers will remember that during the crash we bought "lottery tickets" --C, F, BAC, FNM and others.  The profits on these positions are in the hundreds of percents.  Is the purchase of GM and lottery tickets at variance with our button down image as long term trend traders?  Not at all.  Even Warren Buffet needs a little excitement in his life and that's why he bought Goldman.  (Also he had them over the barrel and got a deal the Mafia would envy.)  Remember, if you do this at home (buy GM) don't do more of it than would amuse you to lose.

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