Several years ago, Chipotle Mexican Grill (CMG) was the darling of Wall Street. The company could do no wrong and the stock was priced at extraordinarily high multiples as growth remained unabated. Then the company ran into a series of food health issues from which the company never recovered. Neither did the stock. The reason […]
The past week was a great one for my annual pilgrimage to the historic Saratoga Race Track. There was a multitude of clients, friends and their families in attendance, many of which I have been getting together with there for over thirty years. Our trip to The Spa culminated with a fantastic Whitney Stakes, where […]
Finally, the market rested. That was in the aggregate. Below the surface not all was that quiet. Biotechs rallied on the back of Amgen’s (AMGN) earnings. Crude oil dipped below $80 dragging down energy stocks. Alibaba (BABA) gained 2% as analysts are now free to initiate coverage, post-IPO, and have done so with healthy upside […]
After a trading higher in the morning, the markets got spooked in the afternoon by the political and social turmoil in Ukraine. B-Teamers, who are only trained to believe that the next bubble is around the corner and only have permission to sell, followed their Pavlovian instincts and sold stocks all afternoon and right into […]
As I mentioned yesterday, the market was exhibiting signs of bottoming. So the markets delivered a decidedly positive session, never backing down and ended on the day’s high. It is very important for a true bottom to be in place that we get a day of strong follow through. If anything, today will be a […]
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