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The Chartman

A Look at ‘Celebrity’ Stocks

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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!

What do you think?

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