Sticking With Starbucks After A 20% Gain
Many of the stocks Wayne Himelsein has recommended before June's strong upturn are no longer bargains. However, Wayne says Starbucks, which is up over 20% since he recommended it on March 10, is still a buy.
Ken Kam: In an incredibly strong June, I saw your portfolio has several great winners. I suspect that the market will cool off from here, but who knows. As one of my best managers, what are you doing now?
Wayne Himelsein: Yes, June was quite a stand-out for the S&P 500, with a gain of almost 7%. But it's not all balloons and clapping at the end of month stock market party, as many people, in fact, don't feel that number. It turns out that the great majority of investors underperform the market with their stock picking. The reason, quite simply, is that the hunt for the gems often leads to being in the wrong ones.