+- The Purge (https://thepurge.net)
+-- Forum: Public (https://thepurge.net/forumdisplay.php?fid=5)
+--- Forum: Off Topic (https://thepurge.net/forumdisplay.php?fid=17)
+--- Thread: General Electric (/showthread.php?tid=6042)
General Electric - Dustie - 02-05-2009
Has anyone here ever worked for, worked with (supplier, rep, etc), or know anyone that works at GE? Any GE division? I'm trying to do a little GE scuttlebutt but I literally don't know a single person with any direct knowledge of GE.
- 1000xZero - 02-05-2009
I know a person who was an Ex-Investment Banker who went to GE Capital in Stamford, CT and did not like the experience.
Part of it was the commute from Manhattan and part was the people and atmosphere but again this was 1999-2001.
- Vllad - 02-05-2009
We move all of their goods.
Vllad
- Vanraw - 02-05-2009
all I know is I bought GE last summer at 25. Thought it was a steal. It went to 30. I was proud. I kept it. Its 11 now. I still have it........
- Fretty - 02-05-2009
Vanraw Wrote:all I know is I bought GE last summer at 25. Thought it was a steal. It went to 30. I was proud. I kept it. Its 11 now. I still have it........
Got ya beat; I bought into an oil company at $0.47/share. It's currently at $0.035/share.
Oh, and I still own BRE-X.
(Remember that one? Because I can't seem to forget...)
- Jakensama - 02-06-2009
I bought dryships at 30, it went to 130 and I sold half of it.. Today it is at 6.43.. I am kicking myself for not selling it all.
- Grieve - 02-06-2009
A year or two back I bought Goldcorp out of the money calls that went up almost 1000% in the course of a few weeks. Held onto most of them too long, and they expired worthless...
Right now I'm All In with Bank of America and Ultra Financials out of the money Feb calls. Counting on Congress and Geithner to get a decent stimulous and Bad Bank plan out by next Friday or I'm screwed...
- Maren - 02-06-2009
Try buying AIG at $50... now its like $3
- Diggles - 02-06-2009
Grieve Wrote:A year or two back I bought Goldcorp out of the money calls that went up almost 1000% in the course of a few weeks. Held onto most of them too long, and they expired worthless...
Right now I'm All In with Bank of America and Ultra Financials out of the money Feb calls. Counting on Congress and Geithner to get a decent stimulous and Bad Bank plan out by next Friday or I'm screwed...
guess you've never heard the phrase...diversify diversify diversify
watch Mad Money with Jim Kramer!
- Grieve - 02-06-2009
I watched Cramer for years, and sometimes still do, but his picks are wrong way too often. Fast Money is a better bet - you can pick some great trading ideas there.
Bank of America up 22% today and my options are up 50%...question is whether I have the balls to ride it out through the John Lewis interview on CNBC and stimulous/bad bank plan...
- Vanraw - 02-07-2009
Yea Ive been jumping in and out of options on a couple companies. JNJ and Toyota have been cyclical repeaters.
On GE, Today they announced they will keep the 31 cent dividend. Pretty dam good for a $11 dollar stock, as long as it doesn't become a $1 stock.
- Dustie - 02-09-2009
Vllad Wrote:We move all of their goods.
Vllad
do you interface with any of the GE people?
- Venganza - 02-09-2009
Their forklift parts are crap.
- Dustie - 02-09-2009
Venganza Wrote:Their forklift parts are crap.
Do you get the parts from someone else instead? Who?
- Grieve - 02-09-2009
The problem with all the financials (or all companies with large financial arms, like GE) is that investors are afraid that they will either go out of business, or be nationalized, or that the common shares will be wiped out through some other government action, such as major dilution.
I don't think there is any doubt that GE, Bank of America, Wells Fargo, and so on are excellent companies that will be worth much, much more in a few years...if they survive. But it is entirely possible that they won't, which makes any long term investment pretty much a gamble.
So really, why risk it? There are plenty of excellent companies out there that are beaten down right now that are far safer to invest in for the long haul. Apple and Microsoft aren't going anywhere, unless we truly do have armageddon. Or go with McDonalds, or WallMart. For now, bank stocks are just too risky.
Having said that, they are great for a trade! GE up 13% today, and BAC has doubled since it's low on Thursday.
- Dustie - 02-09-2009
Grieve Wrote:The problem with all the financials (or all companies with large financial arms, like GE) is that investors are afraid that they will either go out of business, or be nationalized, or that the common shares will be wiped out through some other government action, such as major dilution.
I don't think there is any doubt that GE, Bank of America, Wells Fargo, and so on are excellent companies that will be worth much, much more in a few years...if they survive. But it is entirely possible that they won't, which makes any long term investment pretty much a gamble.
So really, why risk it? There are plenty of excellent companies out there that are beaten down right now that are far safer to invest in for the long haul. Apple and Microsoft aren't going anywhere, unless we truly do have armageddon. Or go with McDonalds, or WallMart. For now, bank stocks are just too risky.
Having said that, they are great for a trade! GE up 13% today, and BAC has doubled since it's low on Thursday.
That fear is exactly why the price of those companies is well below their real value. The only real question for me is how long that fear remains in place before I see a return on my investment and I get to say "I told you so" .. maybe it will be 2-3 years, who knows. I'm mostly refering to Wells since I know alot about them. I still need to get that confidence level with GE and decide if I want to get more into it.
- Grieve - 02-09-2009
I don't disagree about the fear, I'm saying that the fear is warranted.
What do you know that makes you sure they will survive? Or do you look on this as a calculated gamble?
Plus the real value of the banks is very difficult to ascertain, due to the unknown amount of losses they will take from bad assets. Many would argue they are effectively insolvent right now.
As for Wells Fargo in particular, here's a closer look at their balance sheet: http://www.minyanville.com/articles/index/a/20901
- Dustie - 02-09-2009
Grieve Wrote:I don't disagree about the fear, I'm saying that the fear is warranted.
What do you know that makes you sure they will survive? Or do you look on this as a calculated gamble?
Plus the real value of the banks is very difficult to ascertain, due to the unknown amount of losses they will take from bad assets. Many would argue they are effectively insolvent right now.
As for Wells Fargo in particular, here's a closer look at their balance sheet: http://www.minyanville.com/articles/index/a/20901
I don't know that they all will all survive, but I do know that the leaders will survive. Wells is a leader, GE, not sure -- it once was.
Think about this, Wells just bought Wachovia for 15 billion in stock. Before this crisis, the "market" valued Wachovia at 80-100 billion. Wells did exactly what any sane person would do, buy a huge asset for 85% off. That margin of safety along with Wells established track record is what gives me confidence. In a few years when things return to normal, even assuming normal means 50% of what they were in 2006, Wells ends up with 50 billion in value that cost it 15 billion. That's all putting aside Well's existing industry leading business and the effect it will have once fully integrated.
I'll look at that balance sheet analysis later.
- Vanraw - 02-09-2009
One of the main hitters for GE is the GE capital division that is in the same shape as the banks.
Over all, Im with Dustie though. I'm looking for bargains that will double in 2 to 3 years. The only bet is weather or not we will go into a depression or slip out from a nasty depression.
I'm betting we come out of this.
- Dustie - 02-10-2009
Grieve, one other bit of confidence, we have still have Geithner at Treasury who will fight back the populist.
Quote:Mr. Geithner also expressed concern that too many government controls would discourage private investors from participating.
Plan article from NY Times:
http://www.nytimes.com/2009/02/11/business/economy/11bailout.html?hp