One thing I now know for sure about BGCP is that I just don't understand this company whatsoever. I thought I had some idea, but now I know I don't have a clue.... Maybe the real problem with BGCP is that management is continually creating new ways to give away stock to pay for employess and none of them want the stock in lieu of pay... so constant selling pressure exists internally while they dilute ownership for those of us dumb enough to think Mr. Market, not we, misunderstands. My worst investment ever, and yet I continue to think it's a better buy than sell.....when will I ever learn?
BGCP represents about 2% of my portfolio. It was strictly a spec stock for me. If it dies on the vine, it won't kill me. If it recovers, it'll be a few more sheckles in my pocket.
This is going to be an interesting day. It's shaping up as one of those days where BGCP will act contra to what it should in theory. Market is going to be down big at the start as is BGCP, and yet if there's a real reason for the mkt to be down, then it ought to be down with on high volume and that's supposed to be good for the brokerage business.... Mkt qute for BGCP pre mkt is -.10.
The CEO said that he likes the fiscal cliff and the resulting volatility.
So let's hope they can make some good money from it!
Today seemed like a bear raid down to $3.18 and stayed down quite a
while and then very quickly back to $3.33
I think we will look better as soon as 2013 hits because of tax loss selling
Happy holidays to all.
Not very good advice. The J`s have made a lot of money for me in REITs. I`ll always thank the Messrs. Simon of Simon Property Group for a five bagger that I cashed out about five years ago. And I should have gone back to the well a couple years later...woulda had a six-bagger. And the Taubmans. And the folks at Kimco and CBL....bless you all.
So, your blanket statement about "never trust two so-and-sos" is worth pretty much what all generalizations are worth - -zippo.