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Say what you want about the folksy image acting as a thinly disguised veil for him being the biggest shark and hustler who ever lived (sorry, but you do not make $60 billion by being a big sweetie), but Old Man Buffett is poised to sit pretty, once again. While the rest of us make short-term trading bets on companies with price/earnings multiples in the triple digits whose sole claim to fame is that they can make sweatpants that can make any woman’s ass look tasty, Ol’ Warren sits in Omaha and downs egregious amounts of french fries and milkshakes, ignoring fluctuations. Now, more than ever, two of his longer-term bets (i.e., his holding period is “indefinite”), PG and KO, have as bullish a setup on their monthlies as virtually any chart out there.
As usual, these types of stocks have taken their sweet old time setting up, and are only now starting to break out. Consider them for your IRA or long-term portfolios in general, with the dividends to boot.
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The longer you hold stocks, the less important timing is.. Thus, despite all the claims of “buy & hold” being dead, those who do it well are much more successful than any “trader”
you’re a wise man, chivo
Curious about your thoughts about protective stops…
Do protective stop losses of 7 to 8% still apply for “looong-term IRA holds” or should they be made wider, say 10 or 15%?
You should still have a place where you are willing to admit you are wrong. A lot depends on your own risk tolerance.
Got it. Thanks, Chess!
no problem