IS Goldman right regarding oil and is Apple really cheap?
There were some big headlines that came out over the weekend that Cory addresses with Chris Temple, editor of the National Investor (click here to visit his site). First we discuss the Goldman report which raised their target for oil. The other story comes out of Berkshire Hathaway disclosed an investment of almost $900 million in Apple stating that they think the stocks looks cheap.
Click download link to listen on this device: Download Show
Good thoughts today from Mr T on the Oil patch, on the general markets, gold, and some of the newsflow flooding at investors form Warren Buffett’s investment in Apple, to Goldman’s reversal to a bullish call on Oil, that seems to defy common sense. As Chris said, “we’re in a weird place here…..”
Goldman probably has a big $50 oil bet and want it to get there.
These big firms can move the market up when it becomes too painful on their portfolios. Us little guys can jump in and surf the wave up. Apple was headed to the $73 target and that would have meant massive losses to Berkshire. Goldman had been calling for 20 to 26 oil I believe and they have missed the rally and have reversed course to try the long side. I had taken gains on my Cisco and Intel and they really took off today. I was only able to buy back 1/3 position in Intel.