Published August 16, 2013
Whether you’re a market pro or an interested spectator, you have to conclude this past week was rough. Of course, we’ve had them before – as recently as June – but this one felt different. Maybe it was the gap down Thursday or the overall malaise since early August. Whatever, I think the market could be tough for the bulls the next few weeks.
Today, I wanted to look at stocks where the CEO is a real celebrity. The first one that springs to mind is Berkshire Hathaway (BRKB). Despite his supposed succession plan, Warren Buffett pretty much is the company right now and has never shied away from getting media exposure. I like the stock as a buy.
The latest “celebrity” stock is probably Yahoo (YHOO), and it’s being driven by Marissa Mayer who’s now appearing in Vogue. I’m not sure that’s a good idea (too much focus on the exec and not on the company), but the stock did hit a multi-year high a few weeks ago.
It looks a little weak now, however, so I’d wait for a new high before buying.
Will the selloff end by this time next week? Fingers crossed!