Warren Buffett is a hero to many investors, myself included. His record speaks for itself: 18.3% annualized returns in Berkshire Hathaway’s ($BRK-A) book value over the past 30 years compared to just 10.8% for the S&P 500. And his returns in the 1950s and 1960s, when he was running a much smaller hedge fund, were even...Read More
74% of money managers are bullish on U.S. stocks, according to Barron’s, an all-time high by the magazine’s measurement. Only 7% were bearish. Uh oh. “All-times highs in bullishness” is not something I generally like to hear. If these managers are talking their book—and we have to assume they are—then this means they are likely already...Read More
Has Big Tobacco stumbled into a new growth market in electronic cigarettes? Well, sort of. Use of e-cigarettes—which produced a smokeless water vapor infused with nicotine—is expected to more than double in 2013, which might ordinarily be good news for the major tobacco giants. Altria (NYSE:$MO), Reynolds American (NYSE:$RAI) and Lorillard (NYSE:$LO) are all active in...Read More
The language of Wall Street is infused with pithy maxims. “Don’t frown; average down.” “The trend is your friend.” And perhaps most relevant to us at this time of year, “Sell in May; go away.” The last one is perhaps the most dangerous because, at least for the past several years, it has held true. Since...Read More
