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My FAS update

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April 14, 2009 – Comments (3) | RELATED TICKERS: FAS , GS , C

To all the people I've been taunting about FAS, an update: I've sold most (but not all) of my FAS Monday afternoon, realizing a >40% gain, plus a handful of FAS shares that are basically free. If FAS goes to 50, I'll have another huge gain on my hands. If FAS goes to 0, I'll still have my original big gain.

I preceptualize that none of you ever again doubt the power of poor gov't policy to enrich the few.

3 Comments – Post Your Own

#1) On April 14, 2009 at 12:58 PM, jddubya (< 20) wrote:

Not sure who you've taunted, but I've done almost the same thing... sold all fas yesterday for a very modest gain (I had held way too long and barely got the gain by buying a bunch more in early March) , then stuffed that cash into faz yesterday and today.

 

Thanks for posting the info  - makes me feel a bit more confident in how my thought process works...

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#2) On April 14, 2009 at 1:20 PM, jddubya (< 20) wrote:

ahhhh... i just read your other post.  I think that most of the others that warned against your actions have a lower risk tolerance than those few of us who can see the market for it's ups and downs, patterns, waves, whatever you want to call it.  You made a good call, well reasoned out, and most importantly you publicly put your money where your mouth was/is.

 

My personal feeling is that with the way the market is right now, etf's like fas and faz are an excellent vehicle for a short term ride.  And as you mention - not taking a risk can be a big risk in itself.

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#3) On April 20, 2009 at 12:40 PM, FleaBagger (28.91) wrote:

I don't like FAZ as long as Geithner looks intent on stuffing taxpayer revenue (and printed money) into the financials. That posture (in light of Geithner's power) makes FAZ very dangerous. Take profits while you can.

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