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Old 03-08-2009, 02:02 PM   #8
pepper24
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Join Date: Oct 2005
Location: Calgary, AB
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Quote:
Originally Posted by MJK View Post
IBN is not just a bank. It is also the 2nd largest insurance company in the world with a like a billion customers!

You won't like hearing that I bought some BAC at $8 thinking it was a steal. It is down to $3.14 right now. Long term I think $8 is a good buy, it should rebound eventually.
As a bank and insurance company that's a double whammy IMO. Personally I would avoid any bank or insurance company until we see what happens with this economy. The only banks I'd even ponder are CDN banks, one of the big 5.

BAC could easily go bankrupt instead of rebounding. It's anyone's guess. If you can stomach your current lose you might as well hang tight. To break even though you either need this stock to rebound or have another stock make big gains. Tough to do in this market.
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