2008 is turning out to be one of the worst years for stocks in some time. Dow is down more than 1500 YTD & has been under 12K for 2 months. Major damage has been done across the boards, even to the mightiest. Of the stocks held by the largest number accounts at Charles Schwab, YTD gains are limited. IBM is up 17% & another 3 are up marginally. The list for those which have fallen 10% or more of 16 decliners are:
_____________________Declines
AT&T.........................24%
AlcatelLuc....................17%
Apple.........................11%
Bank of America............26%
Chevron......................10%
Citigroup.....................37%
Exxon Mobil.................18%
General Electric.............20%
HewlettPackard.............10%
JP Morgan...................12%
Microsoft....................22%
Pfizer........................12%
Verizon......................20%
Widespread damage across many industry groups will take time to repair. I think higher yielding investments will help investors endure the waiting period
Tropical storms brewing in the South Atlantic are threatening US coasts. These threats are especially important for MLPs, however they ride out storm season every year. Pipelines & terminals for oil & gas are built to deal with storms.
I'll be away tomorrow AM, be good. Will return for closing markets.
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