I bought a bunch of Enron stock. I know, I know, speculative stock purchasing is not for the market naive. I knew that and I did it anyway.
I can lose the money without having to move to a freeway overpass, at least in the near term - I don’t want to, but it won’t kill me. It won’t exactly help (I’m not in that segment of society that needs to lose money to help with taxes), but it will be a sad, sad waste.
Why did I do it? It’s not really greed - I live a fairly, for the U.S., ascetic lifestyle and don’t really have a lot of investments - it’s been more like a fascination with what’s going on with that company and its people. And its stock.
If it’s delisted, I think I’ve lost the whole ball of wax. What it’ll take for that to happen, I do not really know. Perhaps I should look at this all as paying my tuition for my education in stock market realities. :rolleyes:
Got in at $0.75. How low should I let it go before I bail?
Well, if you’re hammered at least you’re not screwed.
Buying at $0.75 isn’t the absolute worst thing you could do. Illinois Power placed an open offer yesterday at $1. So at least SOMEone is thinking there’s a long term (extremely long term) chance of growth there.
If Enron gets any sort of bailout they’re going to survive. They’ll no longer be a major player…they’ll be a subservient lackey to their corporate masters.
But at least they’ll be alive and have some chance of recovery.
Oh, and if it’s delisted you still own the stock. It just is no longer on any of the major boards. Plenty of firms aren’t listed but still are publicly held.
Hey Jim, I appreciate it, but cabana boy for Z-babe’d be my first choice for working off my penance (let us hope I don’t have to pack up and move to Dallas).
