Monday, November 1, 2010


My Roth IRA is seeing no pain. If you invested in Citi Group at $.97, you are looking at a 300% return to date. Now of course tomorrow there could be a controversy which sends the stock to zero - but that is the nature of the beast.

The stock market is not for people who check the prices every day and say "OMG I lost 6% today - BFD - the question is - where are you at the end of the year.   Only people with patience make money.

Several weeks ago when AIB first came to my attention, it was worth $1.99 a share - at this posting I saw it at $.99 a share.  What is the problem? - The EU has new reserve standards.  AIB is struggling to meet the new standard.  If they fail to meet the new standard by the end of the year the Irish government may take control.  You never know they may meet the deadline. 

If this stock goes the same way as Citi Group, there is money to be made.  But remember the stock market is a game - You might be able to buy AIB come January for as low as $.50 a share, and by March it could be worthless - Tomorrow AIB could announce it will meet the deadline and the stock will go up big time.  Tomorrow I  could wake up and learn Citi Group is worthless - I am 18 years before I take from my Roth IRA (my self designated retirement age is 70) - somehow in 18 years I think Citi will be worth at least what I paid for it.

WARNING - THE STOCK MARKET IS NOT FOR EVERYONE - AIB may be a good investment come January, but it may also be a flop.

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