From Peter Tchir of TF Market Advisors
A Little Thursday Morning Conspiracy Theory Fun
To most Americans, the stock market is the Dow Jones Industrial Average. Whether professionals follow it or not, it really is what most Americans look at when judging the health of the market. And guess what, it is up over 3% on the year. Yes, the S&P and marginally down on the year, but the DOW, the symbol of the American Market is up.
I found Mr. Buffet's purchase of IBM somewhat interesting. He has avoided "tech" companies for a long time. I understand that IBM has diversified, but it is hard to really classify it as much other than a tech company. Also, for a legendary value investor, find a stock that is up 28.5% YTD, 35% in the past year, and is at an all-time just seemed weird. Again, I understand that sometimes value can be found in the biggest companies, even those trading at its all time highs or that have had massive runs. According to Bloomberg there are 15 analysts with a buy recommendation and 16 with a hold. Not the everyone's favorite stock, but hardly out of favor.
His purchase of BAC was done to make money but
the rest of the story ,,,,,,,,,,,,,,,,,,,,,,,,
http://www.zerohedge.com/news/little-thursday-morning-conspiracy-theory-fun?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
As usual, don't miss the comments,,,,,,,,,,,,,,,,
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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