Quote:
Originally Posted by Rain Man
I've been holding MMM forever. It seemed like a nice safe stock at the time with a pleasant dividend, and it's pretty much lost money every year. I figured that I don't lose money until I sell it so I kept hanging on, but this year I started selling it. I read an article by someone saying that they were avoiding companies that face big multi-billion dollar lawsuits, and that's pretty much where MMM is right now.
The CEO change popped the stock up. Maybe people think he can get them out of it, which means I'm selling at the exact wrong time, but I'm pretty much done with it. I don't have a large amount, but it's been getting smaller every year.
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Yeah, I don't know. I didn't buy very much, and I'm certainly not eating losses. So I'm hoping I get a distressed asset.
The CEO has a good track record. But it might kick me in the dick.