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I religiously put money into my 401k (or 201k account now), but I'm not a stock buying person. When I heard that GM is down to $5/share, I can't let this go. What is your opinion for online stock buying websites and what are the minimums you have to start with. I don't have much money, but I'd sure like to buy part of GM right now. This has to be a bargain and can only go up.

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Rodney

'08 Bullitt mustang, CAM 7
Autox VP '09-'10, President '11-'12, interim President 2nd half of ‘14
proud recipient of the Bowie Grey service award '12
Now just a guy driving a mustang....

I can shoot you a Scottrade referral if you'd like that's worth free trades. PM me your email address.

They have local offices as well (I know of Cary and Southpoint in Durham), so you can meet with the brokers as well as do business online.

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Has no responsibility whatsoever.

Well don't bet the farm. If the stock can drop from $43/share to $4.76 in a year, it can also keep going down. http://money.cnn.com/2008/10/09/news/co ... /index.htm

Of course, compared to that pricey GM stock, Ford is a bargain at $2.08.

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Art McDonald
Premier Amateur #518
2008 Dishman Cup
Pivot Cone Snob

Rodney is a waxer (but in a good way)

Just two quick comments:

- Be sure to understand GM's debt and assets per share. If the combination of what they have and what the owe is less than the stock price, it's NOT a bargain. It's a gamble that the debtors won't take over eventually.

- Regarding #1, if GM goes into bankruptcy filing, you stand the chance of getting ZERO value from your stock. The instant that bankruptcy happens , from what I understand, the debt holders get control of all assets.

If you believe that the intellectual capital of GM (IE what's in the people's brains) can overcome their debt situation, then the stock is a buy. If you believe there is any chance they will decide to file for bankruptcy, stay away.

(PS I have not done any analysis of GM's position, so I have no idea which way to recommend)

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Mike Whitney
whit32@gmail.com, 919-454-5445
V10, V8, V8t, I6, I6, V6, F4t, I4, I4, I4, I4, I2, 1, 1