Is it safe to hold on to Wachovia stock?

Question

Is it safe to hold on to Wachovia stock?

Answer 1

This is simply a 'yes or no' question. Is WB stock safe to hold?

The answer is No.

Answer 2

How does it fit into your overall asset allocation? If you simply buy a total US stock market index fund you will own some Wachovia stock and also have diversification.

If you don't have an asset allocation, go here and learn how to set one up:

http://www.saveyournestegg.com/diy.html

Answer 3

I personally would not want to be holding any banking stocks right now.  I think your money could be put to better use in some other industry....just about any other industry for the short term at least.  If you are a long term investor then I guess holding on to it is not a bad thing just know that you probably are not going to make money on this stock any time soon.