Sozzi's Day Ahead: Market, Prove Me Wrong Until that happens I remain bearish, given all I'm seeing bubbling under the surface. Morning call, stock market, value investing, federal reserve WMTOver the weekend, as I was walking through a park for a Juvenile Diabetes event, I broke into a little reflection on a golf course encounter I had a couple weeks back. An older gentleman, after probing about my line of work, excitedly asked, "Any stock tips, hotshot?" His eyes lit up like a kid in an Apple (AAPL) store, just waiting for me to pump his head with a bunch of penny stocks that could jump 200% in the course of 12 hours. Inside I thought: I can't believe these types of questions continue to be asked. I feel so used and yet sorry for this kind man; there is a boatload to know when selecting a stock. Seeing as he was persistent -- and I am not one to hand out "stock picks" with ease -- I kindly told him that he should hold Wal-Mart (WMT - Get Report) for the next 25 years and gift the profits to his children and grandchildren. The entire ordeal was so very odd, but it was motivating at the same time. Clearly I have a ton of work left in spreading the good word on this investing stuff -- with a twist, naturally. But I did recall becoming perturbed at the thought of being prodded for stock picks during a friendly golf match. Along with my continued short-term bearishness on the markets, enter the "weak ahead" on the stock-pick protest line. Yep, what the market is currently experiencing isn't the small pile of malarkey about which the really-bad-tie-wearers are pontificating. Rather, there are issues bubbling underneath the surface that deserves careful pondering before you buy equity in any company. That goes for "safe haven yielders" and, of course, it also applies to discretionary names that still fetch rich price-to-earnings multiples based on the summer rally's doings and rosy forward estimates. Sorry for the wonky terms; sometimes I have to pander to the big boys and use words that the cool club knows.
Sozzi's Day Ahead: Market, Prove Me Wrong
Oct 15, 2012 | 09:08 AM EDT
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