Turkey Roast: 2008's 5 worst deals

There are plenty of other candidates: Merrill Lynch (current price: $11) spending $5.27 billion in 2007 buying its own stock at an average of $84.88. Or a group led by the normally sure-footed TPG buyout house (formerly Texas Pacific Group) putting $7 billion into Washington Mutual five months before regulators seized it and wiped out shareholders. Then there are Fannie Mae and Freddie Mac and American International Group.

But, hey, there's a holiday coming. Let's lighten up. Next year, may the turkey on your plate be larger-and the turkeys in your portfolio smaller.

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