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 (NYSE: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.
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The latest “celebrity” stock is probably Yahoo (NASDAQ: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!