who would have ever guessed in Oct 2007, there were ANY issues with BSC- Bear. all it took for me to short it at $125 was seeing the qrtly report. 3 of 4 business segments were in decline.In October of 2007 I buy the July $75 puts. which were probably $2.00
Stock was $3.00 on March 17.
The best part of that story is not my profit.
I had sent a email to 6 friends on March 10, 2008.
I told them to short BSC, with puts.
1 guy did. 5 did not.
On March 18th, that guy who did saw a $10,000 investment grow to $120,000.
If you recall March 10, 2008, it was the SAME day Jim Cramer of Mad Money had answered a caller and told her or him to HOLD onto Bear Stearns. 6 days later Bear went from $68 to $3.
He tried to crawl away from that advice later by claiming he meant keep the MONEY they HAVE at Bear, but folks always call and ask about STOCKS, not MM funds. Cramer is a liar. The FACT that CNBC is owned by GE, and they allow liars to remain on the air, is the primary reason I will not buy ANY GE product and strongly advise all friends and relatives, never buy GE.