|Day Low/High||28.00 / 28.69|
|52 Wk Low/High||20.76 / 54.75|
Consider that The Oracle is currently 89 years old - and that he made his single best portfolio investment in over a half century at 87 years old!
* It is also probably the greatest investment ever made of a publicly-listed company in history - in either profits in absolute dollar terms or whether based on a time-weighted percentage return * Berkshire Hathaway has made about $43 billion on its...
* With a less favorable reward vs. risk ratio, banks are less attractive over the near term I continue to increase my effective cash position and to reduce my gross exposure in this uncertain and elevated equity market. I have been adding to my shor...
Yesterday I shorted JP Morgan (at an average price of about $139.65) to hedge out a portion of my , and investments - which could be subject to a price correction in the weeks ahead. Yesterday and today I pared down C and BAC as they approach within...
This is one of those days when there's so much good news that it's overwhelming, and we see moves that we didn't think were possible.
Here's why I shorted a few on JPM and my take on the eye-popping earnings.
Earnings reports could provide a "sell the news" excuse for a pullback, but a powerful wave of Fed-created liquidity is crushing skeptics for now.
Monday brought more record highs for the broader equity indices. As a trader, the feeling is so eerie. I'm not kidding.
As I mentioned in my post, I expect some profit taking in the banks stocks - even in light of slightly better than expected fourth quarter reports. Upon review of its earnings report, I have taken a small trading short in JP Morgan at $139.20 (in pr...
You are hearing talk of an 'earnings recession'. Just talk, my friends. Our marketplace has already been mired in an earnings recession for quite some time.
Stocks are set to gap up at the open this morning, but the big question is whether the news flow will be used as an excuse for some further profit taking.
It is highly unlikely that the indices are going to roll over and go straight down from here.
The electorate will decide whether the market has room to run again next year.
Here's a look back at how my recommendations worked out.
* I am calling an audible based on the Seattle Times report and management's apparent "slow play" on the fuselage damage during a stress test * The optics are poor * Though downside seems limited, Boeing may become even more of a "show me" stock, wi...
Let's check the charts of WFC and see where we should buy it and what to risk.
BB- and B-rated bonds have performed well lately, but CCC-rated bonds are a different story -- this divergence hasn't happened in nearly two decades and it gives clues about what to expect for 2020.
A reminder that I recently: * (Reluctantly) pared back my very large positions in Citigroup , Bank of America and Wells Fargo to medium in size * Eliminated Facebook * Reduced from very large to medium in size in Alphabet and Amazon
* Reluctantly and given the strong price performance of the last few months With the move this week and given the strong follow through today (producing high relative strength readings), I am reluctantly reducing my very large holdings in , , and to...
I have sold my speculative Deutsche Bank shares (for a very small profit) and I am taking the stock off of my Best Ideas List. The proximate reason for the sale was my analysis of the bank over the past weekend following the Wednesday report of a $9...
A few subscribers have asked me about Wells Fargo this morning. Here is my update from a few days ago.
The most hated money center bank stock extant, Wells Fargo , is challenging its November, 2018 highs today.
Most importantly, at least to me as an investor, is tangible book value.
Of course, performance matters, but investors are forward looking. For this name, this is especially true.
* Bank earnings, to begin to be reported this morning, will mostly be in line to modestly higher than consensus expectations. * In this quarter, bank EPS will begin to improve and grow relative to the S&P - with flat to slightly higher operating pro...
Citigroup and Lululemon are on the radar this morning.