May 31, 2008
– Comments (3) |
RELATED TICKERS: MCO
I hope I can get my money out Monday before the collapse. Check out this article by Sinchiruna.
Let me know if the link doesn't work.
The link works, but others have pointed out the same thing (including myself) for a while. The fallibility of their business model isn't something new.
Some notable mentions CAPs: dwot, DemonDoug, TMFBent, alstry, and others... DemonDoug mentioned how Moody's is a MF pick although their intrisic value has drastically fallen [Link Here] which is something Warren Buffett has said this himself.
There is a difference between a declining business and a declining stock price. I don't like to speculate and try and catch falling knives. I'm not a billionaire and I don't have money to throw away or ideas with low risk-rewards.
I think the market will hold up well enough for you to exit your position safely if you want to.
Sorry, Lee. I'll link to your article next time. By the way, even after about a 1 to 1.5% drop on Monday before I sold my shares, I made something like $200 net of commissions, and in my Roth, where it the effective tax rate is hmm, what was it? Oh yeah, 0%
Pretty sweet for something I shouldn't have done in the first place. By the way again, I put all the proceeds into WNR at $13.ninetysomething per share. No joke. Still, this is one of the worst refiners from what I can tell, and that's why it was so cheap. I just hope it can ride rising crack spread tides until I'm allowed to sell it without my account becoming restricted for sweep trading or whatever it's called.
I keep forgetting to close the MCO pick in CAPS, though.