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Six financial stocks that still rate a buy
I have but one simple question. What is that "still" word doing there? The stocks either rate a buy or they don't. That's the kind of disclaimer the captain of a ship might say after hitting an iceberg. She's "still" floating!
To that end, he suggested buying American Express (AXP: 32.14, -3.20, -9.0%) , Capital One Financial (COF: 46.78, -4.64, -9.0%) and Discover Financial Services (DFS: 12.96, -0.82, -5.9%) , noting that of the three he is the most optimistic about the fortunes of American Express.
Yeah, American Express was only down 9% today. Nice timing. So what explains my headline? Someone left a comment on the news site.
Anyone who recommends buying stock in a credit card company in this environment is nuttier than a Stuckey's pecan log roll. - TokyoPlumber
For the record, TokyoPlumber seemingly got his comment in BEFORE the stock crashed today. Well done!
This is enough to make me want to write a book about looking for keywords when investing. I'm absolutely amazed at the power of that word "still." There must be some part of the brain that is forced to use it when things don't quite seem right. I'm dead serious. I've been watching that word a lot in the last four years and it rarely disappoints (unless you are an investor). I offer one example out of many.
September 15, 2008
MCCAIN: ECONOMY STILL 'STRONG'
Still was much more important than strong in that headline, using the power of hindsight. Wouldn't you agree?
Or how about the following gem...
January 24, 2003
Bush's Backing, Still Strong, Shows Steady Decline
It just doesn't get any better than that! Seriously, it doesn't get any better.
Preliminary 2025 Housing Forecasts
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Today, in the CalculatedRisk Real Estate Newsletter: Preliminary 2025
Housing Forecasts
Excerpt:
Towards the end of each year, I collect some housing for...
2 hours ago
4 comments:
Stag,
Now I'm more confused than ever.
Should I "still" be a bear?
I'm watching the VP debate. I'll likely "still" be writing in a protest vote.
http://en.wikipedia.org/wiki/Jesse_Ventura
I watched a lot of wrestling as a kid. I can't say I still do though.
Buy and hold is still the best investment advice offered by the financial talking heads!
MAB,
Should I "still" be a bear?
Still and all, the lack of market stillness amid the virtual economic stand still makes it hard to still the sitting still. Investing in stills is still an option. This still isn't a Great Depression. Stills are still legal.
Buy and hold is still the best investment advice offered by the financial talking heads!
Saw an ad featuring Cramer telling me that stocks have been the best investment over any 20 year period. Apparently he was not talking to the Japanese investors.
http://en.wikipedia.org/wiki/Nikkei_225
The Nikkei average hit its all-time high on December 29, 1989 when it reached an intra-day high of 38,957.44 before closing at 38,915.87. Its high for the 21st century stands just above 18,300 points.
Trades under 11,000 today, nearly 20 years after its peak. We're MUCH smarter than the Japanese though and have learned a lot from them. I offer the following as proof.
Buffett dives into GE amid "economic Pearl Harbor"
http://www.reuters.com/article/technologyNews/idUSTRE4908PE20081001
NEW YORK (Reuters) - Warren Buffett's $3 billion commitment to General Electric Co is the latest attempt by perhaps the world's most revered investor to dive into a beaten-down company he believes has staying power, despite a global credit crisis he calls an "economic Pearl Harbor."
I saw another ad telling me how I can backtest my trading strategies up to 10 years just like the pros do. Apparently we all want to ignore the 1970s and the Great Depression. Who needs that messy data confusing the picture?
Oops, it was my intent to include you Anonymous as well in that, especially since I quoted you. Sorry!
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