uthentidate Holdings (ADAT), yesterday's big winner, is down 11.6% today. And still no headlines. This is a perfect example of the illogic of the stock market. Freddie Mac & Fannie Mae both got waxed. Probably had to do with "NEW YORK (Reuters) - The four largest U.S. banks could face as much as $42 billion in losses as they repurchase faulty mortgages from housing finance giants Fannie Mae and Freddie Mac, Fitch Ratings said on Wednesday." At least this time there was really something for the market to react to. GM filed paperwork for an initial public offering today, meaning we'll be able to buy ownership shares in the company we bought last year. I have mixed feelings about GM. I think if they go back public, in the short run at least the stock will jump. But I haven't yet seen that they are doing anything different than what they've done the last 30 years which got them into this mess in the first place.
Read an interesting article about Google. They are up almost 389% since they went public 6 years ago, but they are down 20% YTD. That means if you bought Google on January 1, 2010, you have lost 20% - on the Google! The same company that is selling Andriod cell phones all over the place. I guess the point is you can't invest in the popular companies at the wrong time.
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