246000 workers at Ford, 252000 at GM and not to mention Chrysler workers, and car part suppliers...all hinge on $25 billion bailout money from the Federal Reserve. Bad news should be good news for Honda or Toyota but the whole market is down. It is definitely good news for patient investors willing to invest and wait for the long term. These bargain prices come once in a lifetime. Currently Warren Buffett's stocks are the most attractive to me as buying below his price provides me with a margin of safety. Buying cheaper than the world's greatest investor who ever lived definitely allows me to sleep better at night..
Goldman Sachs at $55, Warren got it over $100 (preferred stock).
General Electric $14, Warren got it over $20 (preferred stock).
Wells Fargo $24, Warren added to his position at around the same price.
Kraft $25, Warren got it above $28.
Conoco Philips $46, Warren got it above $60.
Aside from those stocks, book value no longer matters to Wall Street anymore. It's incredible.
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Disclaimer...The subject matters expressed above is based purely on technical analysis and personal opinions of the writer. it is not a solicitation to buy or sell.
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