August 27th, 2008
food for thought
Warning: picking bottoms on stocks is dumb, so don't try it.
I saw an interesting list of 50 SPX stocks that have lost 50% of their value since the S&P 500 high last October. From that list, I culled the stocks I have on my Google Finance "watchlist" - these aren't stocks I necessarily bought, but I added to do some more research. From that list, I culled out the really bad apples (ones where I believe macro trends are just going to crush them, which includes almost all financials, newspapers, and telecoms).
The final list is: TIE, WM, ETFC, VLO, AMD, and GM. (WM is a financial, but I left it on for sentimental reasons). I wonder if a basket of these stocks would outperform the S&P 500 or not.
