Oh William, I forgot to tell you its 24 year old MBA's that's managing Wall Streets $trillions these days. Not old codgers like us.
Ps
Did you know that those 24 year old MBA's have no fear?
>'WD-40 is a great investment, but a poor speculation."
Thus speaks Garry O. Ridge, president and chief executive of the company whose main product, the WD-40 lubricant, is in 80 percent of U.S. and Canadian homes and in 70 percent of U.K. and Australian homes.
It's the ideal defensive stock yet, astonishingly, it yields 6.7 percent, based on yesterday's closing of $19, up 50 cents.
To be sure, WD-40 is no growth company now. It's said this zany market is obsessed with growth, but that's not really so: It's obsessed with what some 24-year old analyst on Wall Street forecasts that some tech company's growth will be several years in the future.
"I am really scared of what's happening out there," says Ridge, and many others share such fears. "Good companies making good products and good profits are being ignored by people using Wall Street as a place to gamble."
Amen. The Greater Fool theory is a more apt description of momentum investing. |
