when the earnings estimates haven t come down enough, do you mind if we just accept the fact that we ve got a short-term defeat on our hands? yeah, we were defeated again today. third day in a row. there s no other word for it, other than to say it s a defeat for our friends the bulls. it seems like the greek deals are on the verge of collapse and we re in a high risk moment for spain, the only thing to truly save you are high yield and a few, just a few special situations. if greece is booted from the euro and spain can t pay, even the special situations and high dividends might not provide too much protection. but let s go over what it means to lose less than the other guy. let s start with apple. oh, boy. people were quick to dump apple today? sales and earnings failed to beat estimates and guidance was hideous. we know apple s products aren t cheap, but apple also has a ton of new products coming up, including a new iphone. that s pausing the market. lots of people have b
beat estimates and guidance was hideous. we know apple s products aren t cheap, but apple also has a ton of new products coming up, including a new iphone. that s pausing the market. lots of people have been waiting for the bad guidance to get into the stock so now they have their chance. apple is the kind of special situation that can go down now, in part because of europe. everything that s got international sales. but i still think it should be owned. that does not mean traded, does not mean rented. owned. you have to take some short-term pain to get to longer term gain. hey, let s google where we are with apple. right now the house of pain. the house of pleasure. it s real special and there aren t that many special situations that should be able to handle the pressure. we can t gain quarter to quarter highs and lows. but if it s real special, i can do it. now, yield is something we can game. stock yields are so much bigger than bond yields. not as much risk as we
haven t come down enough, do you mind if we just accept the fact that we ve got a short-term defeat on our hands? yeah, we were defeated again today. third day in a row. there s no other word for it, other than to say it s a defeat for our friends the bulls. it seems like the greek deals are on the verge of collapse and we re in a high risk moment for spain, the only thing to truly save you are high yield and a few, just a few special situations. if greece is booted from the euro and spain can t pay, even the special situations and high dividends might not provide too much protection. but let s go over what it means to lose less than the other guy. let s start with apple. oh, boy. people were quick to dump apple today? sales and earnings failed to beat estimates and guidance was hideous. we know apple s products aren t cheap, but apple also has a ton of new products coming up, including a new iphone. that s pausing the market. lots of people have been waiting for the bad guid
no. if you let your screen drenched in red and the action of spain take over your brain renting space telling you to stay the heck away from all stocks because the world is ending, you aren t thinking about buying petsmart, johnson & johnson, colgate, ross stores or coke. no. you could care less. it s a recipe for panic, not opportunity. uh used to turn my screen off days like today and just pick stocks. people don t do it anymore. what do they do? pass on the lows of the day europe generated once again, too scared to take advantage of the sale. but if uh you look at what s happened since the crisis in europe began, what s worked over and over and over again, if you look at what happens as the market came back from the abyss this afternoon, the right move has been to wade into the recession resistent names and higher yielding stocks to take advantage of declines. i m sorry. it s empirical. moments like this you get a chance to buy discounted merchandise that refuses to go on
oh, they want to wallow in the new negative outlooks for germany, the netherlands and luxembourg. they want to participate in the depression in spain. they want to focus on the losses europe gives us every morning. they could care less that this might be the moment to buy the all american petsmart. they don t want to use the sell-off caused by high spanish bond yields to get into ross stores even though it isn t even in all of the rest of this country let alone nothing in europe. it feels like you were taking your life into your hands. can you take a shot at colgate let alone invest in it? tomorrow might bring a story about sicily or catalonia. check your maps. google them. is it too early to buy j & j with restructuring ahead, coca-cola though they are only down 15 cents today? no. if you let your screen drenched in red and the action of spain take over your brain renting space telling you to stay the heck away from all stocks because the world is ending, you aren t thinking