08-10-2010, 12:05 AM
Breand Wrote:I wish I had bought it too but summer months always sap my checkbook and I didn't really have the extra cash for it. It's still a buy. Any costs involved with the spill will be paid for within a year's worth of profits. (they made 6 billion last quarter). I wish I read The Big Short a couple months ago, as I wouldve bought a ton of LEAPs (now I know that they exist) on BP. What's the chance of BP going to $50 or $60 in the next two years? Highly likely.
Honestly Im not sure I will ever buy straight stocks again after that book. It's all about the "shenanigan products." I'm just not sure what I'll have access to buy as a schmuck day-trader.
ya, paying for the spill doesnt stop lawsuits though. they'll prob spend another years worth of profit paying for legal defense.
I'm still amazed that people were getting gas at BP stations, sucker born every minute though.
[should not have shot the dolphin]