Am I An Idiot for buying.....

JoeyD · Aug 25, 2005

My brother, who is a stock broker in NY, told me to jump in on this stock

So i bought 1000 shares at $79

BIDU

im not rich, so this is a major investment for me
what do you guys think?

viking611 · Aug 25, 2005

check out their website...

http://www.baidu.com/

:monsters- :monsters- :monsters-

SportSavant · Aug 25, 2005

79K? you must have some money.... :icon_conf

can you give us a bit more background on the stock, why is your brother touting it?

viking611 · Aug 25, 2005

looks like a google in chinese

JoeyD · Aug 25, 2005

its called margin

and i dont ask my bro questions, he ususally delievers on tips like these

JoeyD · Aug 25, 2005

but i can tell you he did tell me its expected to go back to 125 within the next 3 months

Jabow · Aug 25, 2005

Nice way to sell stocks, lol
you should have ask your bro. insead of coming here and ask

Dante · Aug 25, 2005

Joey, this is simple

If it goes to 125 a share then your no idiot for listening to his genius ...if it tanks then your an idiot for listening to him

JoeyD · Aug 25, 2005

only time will tell

joeyfitzclick · Aug 25, 2005

define 'usually' .

JoeyD · Aug 25, 2005

last tip was ebay right after it did a split for around 31.00

sold it in july for 41.00

randyrohm · Aug 25, 2005

They had a helluva IPO. Most China plays are looking down the road at all that potential buisness, if you want to hang on to realize it.

kidslick · Aug 25, 2005

JoeyD said:
My brother, who is a stock broker in NY, told me to jump in on this stock

So i bought 1000 shares at $79

BIDU

im not rich, so this is a major investment for me
what do you guys think?

ask this question in the

Financial Investment Room

also if your brother gave you this tip
isn't that considered insider trading ???

how much money are you risking buying it on margin ??

thanks

Jarbo · Aug 25, 2005

You are not an idiot for buying this stock.

This stock has nothing to do with you being an idiot. :biglaugh:

wolfie_cr · Aug 25, 2005

do NOT invest in stocks if you can't afford losing that money

same goes for sports betting of course

LineTamer+ · Aug 25, 2005

Not insider info getting a rec from a broker.Put a sell order in in case it starts (stop loss?) to drop, place it like 70 or so.

iahawk40 · Aug 25, 2005

I shorted this POS the minute it hit 125, and I'm laughing all the way to the bank and will continue to as this dog keeps going lower and lower. At the end of the first day this stock had a P/E of 1100+ !!! WTF!

My advice to you is to dump it at the open tomarrow, unless the 79K means nothing to you, then hold on and watch it drop to less than 10 a share in 6 months...

iahawk40 · Aug 25, 2005

it closed today at 79, trading at 78.90 after hours. At the current price, the P/E is 1462.96!! that is insane any way you cut it. You feel lucky? Stick with it. I'd sell 1st thing in the morning and sleep easy knowing you won't have a nasty margin call to answer to in a few weeks or months....

Dawoofdaddy · Aug 25, 2005

JoeyD said:
My brother, who is a stock broker in NY, told me to jump in on this stock

So i bought 1000 shares at $79

BIDU

im not rich, so this is a major investment for me
what do you guys think?

You could have found better stocks for "major investments". Good luck to you.

GreenDoberman · Aug 25, 2005

It is a Chinese Google clone. The stock will mirror Google's success or failure. Highly volatile and too risky for my tastes.

Am I An Idiot for buying.....

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