The last couple of weeks have been pretty brutal for the stock market. The volatility has skyrocketed and a lot of it has to do with irrational fears about Greece. I have said it once and I will keep saying it. Worries about Greece and Europe are completely overblown.
Stock market has been pretty volatile the past couple of weeks. That means everyone should stay nimble. The 3 key elements this week that may shift the momentum of the markets are: Greece, Goldman Sachs and Economic Reports. Warren Buffet did the whole market a huge favor by putting his reputation on the line for Goldman. I think that takes a lot of guts considering that the whole SEC and the US Government are bashing GS. Buffet put the whole financial sector at ease with his endorsement — at least, for the short term…
Staying nimble is the key in a volatile market. A shrewd investor needs to protect gains while minimizing losses. In this past week, I have switched around several positions in anticipating of this week’s economic reports. I locked in some gains while taking a few small losses on a few stocks that I did not want to hold going into this week’s job report. Below is a list of my current long positions along with some commentary below…
I have provided some updates to my 2010 stock portfolio. Before I list my holdings, I’d like to make a few comments about the general theme of my portfolio, my additions, subtractions, and the reasoning behind these decisions. Additions: THC, HMA, FNGN, SNV, UBS. Subtractions: BZH, MGM, AMAT, SLM, TOL, YHOO…
Financials were the clear winners today, particularly regional banks. I have been pounding my fist for the past few months about financial stocks. They’re likely the first ones to recover when the market turns bullish. A lot of bank stocks look particularly cheap because they have such low price-to-book ratios. A good example is Superior Bank (NASDAQ: SUPR) that has book value of $16.43 but is only trading at $3.25. On the surface, it looks like a bargain but you have to look more closely at the company to get a clearer picture…
It’s been a while since my last post. I just wanted to give everyone my general take on 2010. Below is a list of positions I have in various companies. I have also listed some sectors I like for 2010 and sectors I don’t like. Again, this is just my opinion…but I have made my bets on certain stocks that I feel will outperform in their respective sectors…
I read this interesting article about fund managers buying heavily into bank stocks lately. It left me thinking — do they know something I don’t? Well, for one, these fund managers are closer to the banks than I am and are definitely more familiar with how large financial institutions work. Some of these guys are in charges of billions of dollars so [...]
