Thursday, February 23, 2006

And secondly today...buying more GM stock:

Just added to the £4 a cent GM (General Motors) stock position by buying
another £6 per cent at $20.82.

As mentioned before, this company is working hard to fix its problems,
and I think it will reach agreement with its unions and Delphi on how to
reduce capacity/benefits/workforce, and I think it will have a
successful sale of GMAC in some form. This will turn out to be the
surprise equity outperformer within a year or two. £10 per cent position
is equivalent to just over £20,000 of stock. Lets target a 25% return
for starters, then review it.

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