The Financial Crisis Turns Three

It’s now been three years since the global financial crisis started. Today is the day three years ago when BNP Paribas stopped redeeming three of its funds. Things soon got much, much worse.
The stock market is modestly higher this morning. Leucadia National (LUK) is bouncing back a little bit after taking a hit after last week’s earnings report. Since LUK doesn’t try to please investors by breaking out non-GAAP earnings, their earnings report is rather hard to decipher. Plus, since no analysts follow them, it seems to make little difference. Nevertheless, the market was not pleased with the results.
Medtronic (MDT) is down about 1.5% after the stock was downgraded by JP Morgan from Overweight to Neutral. Now that we’re in the latter half of the year, it seems certain to say that our healthcare stocks are the ones hurting the Buy List the most. I decided to have seven healthcare stocks on this year’s Buy List. As of today, of our seven stocks in the red, six are healthcare stocks.

Posted by on August 9th, 2010 at 11:24 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.