Reading the new high list is a humbling experience even when some of your stocks are on the list. It's about missed opportunities and shaken logic I think. I recall my comments here last year to somebody who wanted an opinion on LTUS - Garden Fresh Restaurants. Thought the stock was overvalued and risky at 10+. An obvious avoid I thought. Was I wrong -g-! Stock hit 16.1/2 today. Earnings coming in nicely; new stores opening as discussed on this thread. But at 15-18X earnings and competition in this business and segment... I just don't get why stock should be THIS high, didn't then either, and maybe I will never understand.
Whole Foods Markets - which I shop at and have been to in several states -that company and stock I could know and get behind, but I didn't at 19 when I thought about it, and now at new high of 51...another missed opportunity. Samo with Home Depot, recommended in Smart Money last summer at about 38, now 61, Countrywide Credit I thought too high at 22-23, now 47, Maytag...etc.,etc. Oh well, it's not about what's missed -- it's about what's captured. And IMO there are still a lot of good stocks at good prices out there. Paul Senior |
