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Anybody buying BP?

Discussion in 'Stocks & Investments' started by burnt_tiger, May 6, 2010.

  1. May 7, 2010 at 5:14 AM
    #21
    98tacoma27

    98tacoma27 :POOPCORN: Staff Member

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    100000% agree
     
  2. May 7, 2010 at 5:32 AM
    #22
    wiscdave

    wiscdave Lets Do It!

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  3. May 7, 2010 at 6:04 AM
    #23
    98tacoma27

    98tacoma27 :POOPCORN: Staff Member

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  4. May 7, 2010 at 6:10 AM
    #24
    PB65stang

    PB65stang Well-Known Member

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    I could think of a few tens of millions of people who might disagree with you on that given the past few years. In my opinion, buy a house because you like it and want to live there, not because you think it will make you rich. Housing and land come with a LOT of carrying costs that can eat through "profit" very quickly.
     
  5. May 7, 2010 at 6:10 AM
    #25
    kris77

    kris77 Born in the Backwoods

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    For some reason this old guy at work told me he thought BP was going to split shortly. Not really sure what that means...But from what he explained to me if i bought 100 shares at 50$, i would then have 200 shares at 25$. But it would be cheaper for ppl to buy in therefore BP makes more money.

    Is that right?
     
  6. May 7, 2010 at 6:13 AM
    #26
    PB65stang

    PB65stang Well-Known Member

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    I also agree that Roth's are a great investment for young people. That being said, like was mentioned, if you're not investing in a 401k that is matched by your employer, you're crazy. In my sense, I get matched, dollar for dollar, on up to 10% of my income. That means I've automatically doubled my money. Even with 50% capital gains taxes, I've made 50%. This is extremely rough math, but you get the idea. Bottom line - pay yourself first in all ways you can!
     
  7. May 7, 2010 at 6:14 AM
    #27
    PB65stang

    PB65stang Well-Known Member

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    That's how it works, yes, but usually stocks split when they get too costly, not when they start to trend downward. Dell was a famous one in the past...I think it split 4 or 5 times. The idea is that if a stock gets too expensive, no one will buy it, so you split it, bring the price back down, and increase the demand without reducing the ownership amount of current shareholders.
     
  8. May 7, 2010 at 7:25 AM
    #28
    mws4ua

    mws4ua I'll try being nicer if you try being smarter.

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    Damn... 100% of the first 10%?!?!? That's the best I've heard.
     
  9. May 7, 2010 at 7:51 AM
    #29
    wiscdave

    wiscdave Lets Do It!

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    yeah what company is that, I'll get my resume shined up fast!
     
  10. May 7, 2010 at 7:56 AM
    #30
    mattcombs

    mattcombs Well-Known Member

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    I sure as hell wont buy any bp products. With what they done they blame on other people and try to brush it off buy then blame coal for everything else to try and make gas sell better because its prices cant compete with the low price of coal. And some of the scientist that were involved in hiding the decline of the earths global temperature actually decreasing rather than increasing were also working for bp.
     
  11. May 7, 2010 at 8:10 AM
    #31
    mxracer244

    mxracer244 Well-Known Member

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    There is usually one conspiracy theorist in every crowd...

    Last I heard is BP accepted full responsibility of the accident including the cleanup fees.

    I personally would hold off on buying depending on what happens in the next few weeks. But of course if their stocks keep dropping I would be forced to buy in!
     
  12. May 7, 2010 at 8:25 AM
    #32
    wiscdave

    wiscdave Lets Do It!

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    I wouldn't be heartbroken if they passed some laws that let the people sue the shit out of them to Bankruptcy. How the hell can you not have a back up plan for capping a well that completely fuggs up the entire area, coast, fish, etc.

    A complete FAIL on BPs part. Bankrupt them rich bitches.
     
  13. May 7, 2010 at 1:06 PM
    #33
    burnt_tiger

    burnt_tiger [OP] Well-Known Member

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    they do have a backup plan. its just not a silver bullet. sometimes a situation is just bigger than ever anticipated.

    on that note anybody think the containment dome will work?
     
  14. May 7, 2010 at 1:14 PM
    #34
    jefferson

    jefferson needs to stop cruising Buy/Sell/Trade....

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    They say they've done it before and its worked but no one has done it at that depth before.. I give it 75% yes, 25% no.. just cause i'm hopeful.
     
  15. May 7, 2010 at 1:21 PM
    #35
    jandrews

    jandrews Carolina Alliance Southwest Region Ambassador

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    Houses are not as good investments as people would like you to believe. They depreciate (unless you dump money into them to keep them up), and you are charged tax on them every year.

    Then, if the market tanks (i.e. has happened the past 2.5 years) you lose much of your equity.

    Bottom line, houses are no better an investment than any other.

    LAND is an excellent investment, because it never depreciates and requires no maintenance.


    I agree 100% with people who say you should run your 401k and Roth accounts concurrently - the question is simply where do you put most of your money between the two, and that varies by person. Either get educated, or get a financial advisor.
     
  16. May 7, 2010 at 1:58 PM
    #36
    burnt_tiger

    burnt_tiger [OP] Well-Known Member

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    there are no good investments only good prices on investments

    a share of coca cola at $500 is not a good investment.
    5 tons of cow crap for $1 is a good investment

    its all about the price you pay (valuation)
     
  17. May 7, 2010 at 2:30 PM
    #37
    jandrews

    jandrews Carolina Alliance Southwest Region Ambassador

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    Agree completely, except for land. It has no carrying costs, is stable, only appreciates, and can't go into bankruptcy.

    As Mark Twain said, "Buy land. They've stopped making it."
     
  18. May 7, 2010 at 2:38 PM
    #38
    schiz94

    schiz94 Thread Jacker

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    just because I'm young doesn't mean I'm stupid.
     
  19. May 7, 2010 at 2:43 PM
    #39
    Isthatahemi

    Isthatahemi Well-Known Member

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    While on the topic of oil, y'all should check out HOU, much better chance of return on investment than BP (short or mid term). Can you imagine what this cleanup is going to cost? Also, when these losses get on the books, BP is going to be trading for $25ish. At $50, you are looking long term to even get your money back. My opinion is never buy until the losses and costs are on the books, until then, the actual value of the stock is only speculation.
    My .02
     
  20. May 7, 2010 at 3:49 PM
    #40
    jandrews

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    I never said it did.
     
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