The sun rose in the east this morning, at least in northern Arizona, and Vince Farrell touted Pfizer, Citigroup, Microsoft and Intel this morning on Squawk Box.
For the life of me I can not fathom the thought process that derives these names as his best ideas for so long now. I do know that one day he will be right.
I have written before that I doubt he is really sharing his insight.
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2 comments:
I don't know if the interview represented his best insight, but PFE, C and MSFT were all major positions in Victory Value Fund as of 12/31/04 (see victoryconnect.com) where is a co-manager I believe. Frankly, I thought his rec of AIG this morning was even less insightful. The "sometimes you need to hold your nose and buy" comment, while pros may, and I emphasize MAY, be able to discern the good from the bad, is harmful advice. The average viewer, using that strategy could be suckered, literally, into buying almost every stock that eventually goes to zero, along with the ones where the dip buying theory works. On an aggregate basis, I doubt that works.
Joe, great comment. there is an article at the thstreet.com where Cramer talks about buying blown up stocks. Same issue arises; will the average investor understand a company after a major change.
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