Yet I patiently remain a holder. I may be brave, crazy or stupid, but if I wasn't prepared to see results like those announced today I would have sold last fall. When it was apparent we were headed for a downturn, if not full blown recession.
General Motors (GM/NYSE) has a great non-US business. Clearly, more work -- read cuts -- needs to be done in North America.
In short, GM shares are trading for less than my personal cost in the low $30s (I first bought these shares in early 2005, before launching Controlled Greed). And they are also below the $26.75 price when I recommended them in April 2005.
But if I didn't own the stock, I'd buy it here, putting 4% to 5% of a portfolio in it.
Should you? Only you can decide that. Just do your own due diligence before jumping in.
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April 30, 2008
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