A decade or so ago, Philip Morris got sued by people who claimed to not know smoking was bad for one’s health. In the aftermath, the stock plummeted. Back then, I wasn’t too financially responsible (nor responsible in general), but I knew in the dark recesses of my heart that that was a fabulous time to purchase some Philip Morris stock. Unfortunately, I didn’t have the money and all these years later I harbor a deep loathing for “Asciigod The Younger – Financial Weakling”. Had I had money, and mad that move, I’d be a substantially richer Asciigod today.

Situations like that don’t come around all that often; huge corporations in insanely profitable sectors don’t usually take ginormous stock hits. However, I smelled Blood with this Freddie Mac/Fannie Mae fiasco that’s currently occurring.

I’m not too sure how all of this will pan out, and this Wall Street Journal article on the matter predictably ventures no guesses. Honestly, I’m not following it enough, nor am I yet savvy enough to offer too much of a prediction of my own. Let’s just say I feel comfortable with the risk of losing a small investment versus the reward of huge returns should things get back to normal. My money’s on black.

At the worst, Young Asciigod was a better stock picker than me. I can still kick his ass though.