Get rich quickly: Freddie Mac

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.


3 Responses to “Get rich quickly: Freddie Mac”

  1. 1 Juggernaut
    September 9, 2008 at 6:51 pm


  2. 2 asciigod
    September 9, 2008 at 10:56 pm

    Do you think it’s a coincidence I’ve been bumping Juve’s “400 Degreez” (HA?)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: