G-Day Sell-Off

Overall, I have to say that I’m not terribly impressed with the SEC’s case against Goldman Sachs (GS). Perhaps there’s more to it, but it seems pretty weak to me. My guess is that Goldman will eventually write a $200 million check to the feds, maybe less. To add some perspective, GS lost about $12 billion in market cap today. That could buy the New York Times (NYT) more than six times over.
Today was another good day for the Buy List. By that, I mean we did less worse than the rest of the market. The S&P 500 dropped below 1,200 to close at 1192.13 for a loss of -1.61%. The 20 stocks on the Buy List lost an average of 0.91%. That’s a very nice outperformance for one day. For the year, the Buy List is up 13.05% (not including dividends) compared with the S&P 500’s gain of just 6.91%.
Nicholas Financial (NICK) got to another new high of $8.67 although it closed down slightly. Of our 20 stocks, only Gilead Sciences (GILD) and Wright Express (WXS) were up today. Wright had been one of our laggards but it woke up this past week. The stock is at a new 52-week and it’s due to report earnings on April 27. Here’s a list of some of our upcoming earnings reports.

Posted by on April 16th, 2010 at 4:34 pm


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.