This article takes a lot of space to say what I've been saying for a while: The stock market is not logical. Therefore, don't try to apply logic.
Friday, February 4, 2011
About 2 weeks late, but I finally bought Fannie Mae and Freddie Mac. As I've mentioned, they were both on my watch list when they were in the $.30/share range. I bought at $.86/share and $.90/share because I still feel like they are going to hit $30-50/share. To repeat, the reason I'm interested in them is because they were $30/share 2 years ago before the meltdown, and backed by the government. They are STILL BACKED BY THE GOVERNMENT. 'nuff said.
Posted by Tyrone Griffin at 11:45 AM