Bonehead play of my life - sell AER before the deal was announced and buy more AYR and FLY. To buy back in the 30's what I sold in the low 20's was one of the hardest things to do in my life. Will turn out a smart play.
Yeah, I know!... My stupidity was to sell 30% of my AER shares at around $15 and buy FLU(y) at $12.... I still have those shares now trading up $2 bucks plus some dividends... But I did buy in back in 2008/09 so its okay... but. but but.
airl... I'm still holding shares bought as low as $2.56 on Dec 17, 2008. BUY AND HOLD!! In late 2008 and early 2009 the market (in my opinion) was severely underpricing AER shares. I backed up the truck. The market thought that this was just another financial stock. But, unlike GE, AER was not depending on the money market (without back-up lines-of-credit), when the money market froze. If not for the U. S. Treasury Department bailout, GE would have likely filed Chapter 11. AER held valuable assets on long term leases with decent credits and with solid financing in place. Their status was far superior to banks holding questionable paper based on derivatives of mortgages, equity lines-of-credit, etc. that could never be repaid by the borrowers and to leasing companies financed in the manner of GE. AER was not another GECAS!
I still hold a couple thousand shares that I bought at close to the bottom. I also have some of the other leasing companies, I also have shares of all of them that I bought before the big fall also. One of my profitable trades was to sell some(not touching a core) of any of them that got way ahead of the others. This worked well until AER jumped up and me not knowing anything about the ILFC deal I sold into it and bought(oh my god) FLY. There is no doubt I made money over the time - but as usual I beat myself up because I could have made a lot more and try to learn from some of these lessons.