3/10/2024 0 Comments Mad money networkand costco was at its high and walmart's much lower. all right? but i think walmart's good too. and you know, it looks like they're going to do a special dividend - look, i happen to love costco. what are your thoughts? > well, costco reported tonight and jeff's on that conference call, jeff marks. but the question is i'm thinking about getting rid of it and getting costco instead. listen, i bought walmart back about six months ago. I call all my friends in texas that i saw last weekend, so many members. i've been listening to you for probably five years. what's happening? > caller: joined the club about three months ago. how are you? happy holidays to you and your family and all the investment club members and all your employees. and to me it's a reminder once again you've got to stay diversified because after yesterday there is a pulse outside of the magnificent seven. but the bottom line of this incredibly exciting 48 hours we know that when we have leadership from the banks earth movers and shoe stores that the times they are a-changing. ![]() ![]() and i don't think the suddenly hard-hit enterprise software stocks will go away that quietly. although the stocks will likely be rebounding from a lower level. in fact, we'll probably even see return to some magnificent seven money before they report. ![]() Quarter or maybe even a year i don't know in one day. and now we can see how prometheus unbound works with the stock perhaps headed back to the 60s where it was five years ago, february 8th of 2018. these days because of all the ne'er-do-wells, all the terrible things they did, most view wells fargo as a prometheus bound in red tape and government investigations. back in the day wells would always rally furiously at the end of every rate cycle you had to own wells. one that warren buffett used to own as a huge position. now, many of you are probably - either don't remember or maybe are too young to remember when wells fargo was by far the best bank in this nation. wells fargo and morgan stanley which both rallied about 6% today. but my favorites are the two franchises that have been overlooked forever because of higher rates. no wonder the stock rallied nearly 10%, one of the biggest gains in the index. as customers can get cheaperīe history and newness would be the theme for 2024. now, though, there's nothing to pity about ford. stung by labor costs, walloped by electric vehicle expenses, crushed by extraordinarily high auto loan rates. we look at our own portfolio for the charitable trust, one you can follow by joining the cnbc investing club which i wish you would do, and the new leadership jumps out like i don't know, maybe like a bull on a railway. these stocks were formerly road kill because they needed lower rates in order to prosper. winners that had been total losers at 2:00 p.m. the order of stocks simply changed on a dime and left a host of new winners in its path. only stocks - the slow ones now will later be fast. Of course the companies won't be impacted if rates go lower either but their stocks will because there are so many other parts of the economy that do better with lower interest rates that the money is going to shift from the magnificent seven as it started yesterday and did today and go to these other stocks.
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