Tina Turner is a legend. She is one of the most beloved vocalists of the late 20th century. She even has a highway named after her. Today when I read that National City and Washington Mutual were trying to raise private equity cash to stay solvent, the Tina Turner hit “Private Dancer” started running through my mind. It’s like watching the same tragic tale over and over with these companies. They finally have to report their pathetic performance, cut their dividend, and beg for private money to keep going.
I suppose we should all rejoice that Bank of America’s profits dropped 80% yet the stock only dropped 2.5%. Looks like Buffet was correct, BofA is one of the few banks that is able to stay afloat in this turbulent market. On to happier things.
We have now run through one complete cycle of dividends. The second set are starting to trickle in now. The Thoroughbred Folio has bounced back this week even as the dollar has become weaker and oil is almost $118 per barrel.
Nucor and VF Corp continue to lead all others. Nucor is up 27% for our year. Rohm and Hass has snuck into third place to hang out with the leaders. The bottom dwellers still consist of two financials, Comerica and Fifth Third. Gannett is really having a tough time.
Thoroughbred Performance (Week 18 of 52): $-107.17 (-3.57%)
Dividends To Date: $29.20
Top 3 Stocks
- Nucor Corp $20.05 (26.74%)
- VF Corp $9.89 (13.19%)
- Rohm and Haas $7.87 (10.49%)
Bottom 3 Stocks
- Fifth Third Bancorp $-20.22 (-26.97%)
- Gannett $-15.22 (-20.29%)
- Comerica $-13.92 (-18.56%)
Stocks used in this post:
- (BAC: 25.98, +14.00%, Yield: 11.23%)
- (CMA: 29.29, +18.82%, Yield: 10.63%)
- (GCI: 13.13, +2.90%, Yield: 12.54%)
- (FITB: 12.91, +18.77%, Yield: 10.86%)
- (NCC: 3.28, +42.61%, Yield: 10.43%)
- (NUE: 34.28, -12.75%, Yield: 5.52%)
- (ROH: 70.53, +0.57%, Yield: 2.22%)
- (VFC: 58.77, -5.98%, Yield: 3.71%)
- (WM: 0.1604, 0.00%, Yield: 455.11%)
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