Bought 350 AIG at $2.01

Filed in archive Investing on October 10, 2008

I know it's crazy. But the federal government just gave these dopes even more money to keep the company afloat, which to me says that AIG is going to survive, and my modest investment of $700 could easily net me a few thousand bucks down the road. Sure I could lose it all, but with the market the way it is right now, I really didn't see throwing $700 at AIG stock as a worse investment than any other stock I might buy. If the rest of the market recovers by 20%, I'm guessing AIG recovers by about 500%. If AIG ever touches $60 again (where it was a year ago), I'll make $20,000 off my $700 investment. It's a long shot, but I'm going to ride this one for a while - either lose all my money or make a nice return. Either way, the risk isn't all that great in my eyes.

Still looking at those small banks, but haven't jumped in yet, mostly because they're all actually up today.