Predictions through 4/28/08
On April 28th, Warren Buffett stated on CNBC, “I’m amazed we haven’t seen more inflationary effect so far in the CPI when you consider what steel is doing, what oil is doing, what grains are doing, there is a lot potential inflation down the road.” Buffett added, “I think we are in a recession.” Buffett later continued, “This is not a field of specialty for me, but my general feeling is that the recession will be longer and deeper than most people think…this will not be short and shallow.”
On April 26th, Gary Kaltbaum, Investor’s Edge, via Fox Business News recommended Yum Brands (YUM, 41.05) “the stock just broke out and has held up great in a real treacherous market and just broke out to new highs, I think its going much higher from here,” “Global is very, very strong.” Kaltbaum also said to buy the dollar via the PowerShares U. S. Dollar index (UUP, 22.71), which he believed would be up 20% the next 3-6 months.
On the same show Charles Payne, Wall Street Strategies, touted Lockheed Martin (LMT, 107.63) “the world is a dangerous place,” “we need to keep a strong military.” Payne also thought Sandisk (SNDK, 26.84) would make “a huge” move to the upside, at least 25% move from now until the end of the year since smart money is moving from commodities into tech.
Adam Lashinksy, reporter, Fortune, believes FPL Group (FPL, 66.63) is a good bet “its one of the leaders in wind energy,” “whoevers in the White House, they’re going to be pushing alternative energies….this is a relatively safe way to play it.” Lashinsky also felt the price of oil could drop from $120 to $80 a barrel by Halloween making airlines an easy trade, predicting United Airlines (UAUA, 15.21) would be up 20% in the same timeframe.
Mike Norman, Economic Contrarian Update, recommended Morgan Stanley (MS, 50.56) “the second largest investment bank,” “March 17th the fed did something revolutionary by opening up the discount window to these investment banks…totally taking liquidity risk off the table…they’re going to be able to grow earnings once again and all the financial sectors’ been beaten down tremendously.” Norman also felt the job market was coming back and picked Korn/Ferry International (KFY, 18.47) to bounce up 25% in 6 months.
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