Already bailed on the GM stock . Don't have any GM Bonds. But I am holding firm on the GMAC bonds.  I feel that that part of the business is attractive enough that it will be purchased.  If that is the case the credit rating on the bonds will go back to what it should be were they not entangled with GM.  I don't see any reason to panic and sell GMAC paper at a loss unless you want it to offset a capital gain. 

Besides many of my GMAC bonds are fairly short term, coming due in the next 2 to 3 years or have such high coupons 8% plus that they are likely to be called at the soonest opportunity.   Most of those are callable in 2006 through 2008.

[quote=babbling looney]

Already bailed on the GM stock . Don't have any GM Bonds. But I am holding firm on the GMAC bonds.  I feel that that part of the business is attractive enough that it will be purchased.  If that is the case the credit rating on the bonds will go back to what it should be were they not entangled with GM.  I don't see any reason to panic and sell GMAC paper at a loss unless you want it to offset a capital gain. 

Besides many of my GMAC bonds are fairly short term, coming due in the next 2 to 3 years or have such high coupons 8% plus that they are likely to be called at the soonest opportunity.   Most of those are callable in 2006 through 2008.

[/quote]

ditto

Buy low?  Maybe…but stop loss.  I’ve tried and lost already (buy 26, sell 24), but seems like there’s potential since the market is pricing in the dividend cut.  A lot of uncertainty, but I wouldn’t mind having 5% of my own $ in it with a stop order to limit the damage.

This is why I don’t do any individual securities business. Who wants to spend time worrying about this stuff?

Something to consider. It seems that US auto makers should just recycle the

models of yesteryear with modern technology. I happen to be fond of the

retro look given to Mustang, Challenger, Thunderbirds.



They definately should do something with the Corvette. Bring back the

’65-'66 body style.



Until they bring back daring designs, Toyota, BMW and Nissan will eat their

lunch. IMO

I'm holding GMAC synthetic preferreds, symbol GKM.  Bought it between 16-19.  I get a little nervous now and then with the news flow, as the sale of GMAC could get a little complicated, and they could have some serious problems if GM did file chap 11.

But that big fat coupon plus my gut belief this will end well largely keeps me hangin' on.

If, however, a few pieces of good news give me the right price, I'm gone.  It's been nerve wracking and a little distracting...

This is why I don't do any individual securities business. Who wants to spend time worrying about this stuff?

Ummm.  Because this is what an actual financial advisor does?

[quote=babbling looney]

This is why I don't do any individual securities business. Who wants to spend time worrying about this stuff?

Ummm.  Because this is what an actual financial advisor does?

[/quote]

If it's what you enjoy doing, I'm thrilled for you. It's just not for me. I like spending time on the phone, looking for new money, than I like apologizing to people and taking daily calls for quotes, news, etc...

Dirk: Get yourself “commoditized” and then your firm can stick it any where you DONT’T like it.