Several years ago I purchased a few shares of General Motors stock.

I “had a good feeling” about the company’s future - many fundamental problems had been revealed in the media, and I thought that surely General Motors would begin fixing those problems and the company would turn around.

Ha! As everyone knows, hindsight is 20/20 and of course GM went bankrupt.

By spring of this year my few shares were worth so little that selling the remaining shares was futile; the sales commission would have cost more than the shares were worth. Besides, I kind of wanted to see what would happen when the company finally did dissolve my shares. Would they write me a letter? Or would they simply vanish from my account?

I was curious. So I hung on to my sad little shares and did nothing.

So you can imagine my surprise yesterday when I logged onto my investment account and saw that I no longer own shares of GM, but I now own shares of “Motors Liquidation Company” (OTC: MTLQQ) and moreover, they are worth about the same amount as before! (Which is to say they are worth about $7 total.)

So now I have curiously found myself repeating my thoughts from several years ago. GM has many problems, and they have been made public. But surely, now that everyone knows, they will do their best to change. Right?

I guess only time will tell.

Would you hold onto shares in a company that was going through bankruptcy?

Thanks to I Will Teach You To Be Rich for the pic above!