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Hughes Electronics Corp. (GMH) Message Board

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  • dbrewerm dbrewerm Nov 1, 2000 2:50 PM Flag

    Hey Smokey who is the fool now?

    I have a little story to tell you which may shut
    you up for good. A close business associate of mine
    shorted 5,000 shares of Honeywell (HON) in August. He had
    heard rumors from his broker that HON would miss 3rd
    quarter estimates and the stock would fall to the
    twenties. He was very cocky when the stock fell to $33 and
    looked like it was breaking down. He was up $7500.00,
    but he refused to cover the short. 2 weeks ago a
    little company called GENERAL ELECTRIC made an after
    hours bid for HON and the stock is now $54.00 and my
    friend had to get an $80,000.00 home equity loan to
    cover his HUGE margin call. He ended up getting "bought
    in" by his broker at $52.50 because he could not get
    the money in time to meet the margin call. In my
    opinion, anyone short GMH right now is an IGNORANT FOOL! A
    bid for GMH in the $50's is very REALISTIC at ANY
    TIME. I hope you have the staying power to cover a
    margin call, should that happen. My friend didn't and it
    wiped him out, period!

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • dbrewerm,

      First off I've made a 55% gain
      since January 3rd of this year when it's actually down
      11% if
      I wouldn't of bought and sold. That's a
      66% difference. Even if I should happen to miss a day
      I seriously doubt, No I guarantee GMH would never
      go up that much in one day. However I am aware of
      the risks involved in buying and selling, but I got
      to tell you since the market has changed
      dramatically with Day trading it is a different picture. I
      feel in a much safer place knowing the ups and downs
      of this crazy market. Yes in your opinion I might be
      an ignorant fool but my philosophy has made me some
      goo money this year.
      I am aware when earnings are
      coming out, I am aware of potential sales and mergers
      etc. I stay informed about this stuff.
      From what
      I've learned about GMH and a lot of brokers have
      reflected the same theory is that until the GM Board
      decided to sell/spin DTV as a separate entity this stock
      is a floating duck. Now a friendly piece of advice
      to you "GMH is going nowhere fast until DTV is not
      tied to GM" That my friend is reality.
      I could take
      being called an ignorant fool because I have proven you
      people wrong all year.

      Believe me I'll be there
      when GM is serious about DTV, I'll be making the money
      with you.

      I'll be in touch. The fool with a 55%
      gain in an -11% year. Who's the fool?

      • 2 Replies to gmhsell
      • The GM board will "approve" the ultimate decision
        on what will be done with Hughes, but the one who is
        really pulling the strings on GMH is Harry Pearce (Vice
        Chairman of GM). Harry is a very SHREWD businessman and
        also the chief legal council(lawyer by background).
        The brokers have no idea what Harry is working on or
        WHEN he will announce a deal that benefits both
        classes of shareholders. Brokers only speculate and
        spread their rumors. Shareholders could not be in better
        hands than those of Harry Pearce. He will do the right
        thing and he will do it only when he is ready to get
        the best "deal" that can possibly be done. The
        brokers will get no advance warning, the deal will come
        when Harry presents it to the board and they rubber
        stamp it. It is not wise to be short this stock,
        because a deal could come at ANY time. My experience with
        Harry Pearce is that it will be kept totally quiet
        until he is ready to make it public, no rumors, no
        leaks, no broker advance warning. Harry doesn't work
        that way. The deal will come in good time and Harry
        Pearce will make sure that it is done fairly to the
        benefit of ALL shareholders. I trust him and I have
        complete confidence in him, the rest is HAVING PATIENCE to
        HOLD and wait for it to happen.

      • I was about ready to type, duh, "You are." But
        then I realized you are right. We are all fools for
        allowing ourselves to get caught up in your nonsense and
        name-calling. And then we waste a lot of our time trying to
        justify, TO YOU, an imbecile, why we might choose to
        invest differently.
        You are not an ignorant fool
        because you've been successful. You are an ignorant fool
        because you try so earnestly (?) to change the very
        investment behavior (us) that gives you the opportunity you
        say you enjoy. Why not leave us in ignorant bliss so
        that we may provide you with many more handsome
        returns? Why try to educate those whom you can't resist
        thumbing your nose at? That, my friend, is ignorant. Right
        up there with:

        "I have a broker who..." (He
        has you)
        "Insider trading always has and always
        well [SIC] go on, we would see some pattern developing
        and it hasn't happened."
        Patterns draw suckers in
        gradually and to ever increasing degrees as they mistake
        repetition for reality. It makes suckers invest only at the
        "bottom" and sell only at the "top." Then, when fully
        invested, the pattern changes and a new interpretation
        emerges. Too late.
        You've been lucky. You've purportly
        made good money - but its not a lot of money; really
        you've made only chump change this year. You are not the
        only person on this board who has ridden this wave of
        good fortune. You're just the only one who feels you
        has to let people know that you (he/she) really do
        have an appendage worth swinging.
        Many happy
        returns.

 

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