|Berkshire Hathaway Chairman Warren Buffett|
The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage. By Jamie Dlugosch, InvestorPlace.com NEW YORK ( InvestorPlace) -- Do you think Warren Buffett was a Lone Ranger fan? It's likely, considering he rode that white horse to the rescue. Berkshire Hathaway ( BRK.A) announced $5 billion investment in Bank of America ( BAC) puts him back in the role of hero last week. For the second time since the financial collapse of 2008, Buffett is bringing his substantial war chest of capital to the financial services industry under the auspices of providing confidence and support to the U.S. economy.
But don't think Buffett is out to save every ugly company out there. Here are three picks Warren Buffett wouldn't touch at ANY price.
Hewlett Packard embodies everything wrong with corporate America. Like Bank of America, Hewlett-Packard ( HPQ) shares have sold off hard during the recent market correction. The technology company has seen its stock sink 32% since July 22. Fueling that decline were dramatic moves by management amid a gloomy forecast for the future. Also see: One thing Buffett does not buy is technology. He claims to not understand these stocks like he does insurance, banks and other basic industrial concerns, and he readily admits to missing out on several opportunities to buy low over the years. Hewlett-Packard might or might not be attractive at these prices, but there is no Warren Buffett waiting in the wings to show support for this wounded technology company. Charts Say Sell Into a Rally Also see: RIM has seen its fortunes change dramatically. Apple has effectively destroyed the company. Since earlier this year, the company has seen its stock value plummet by 60%. At currently depressed levels, the only buying here is on speculation that someone will come to the rescue. It won't be Buffett. 6 cheap tech stocks that will only sink lower Also see: Restaurant Stocks Set Sites on ... Kenya?