At the beginning of 2008, I listed stock picks from the gurus on the Fox Business Block. Lets see how their "must own" stocks of 2008 did.
Bulls and Bears:
- Tobin Smith: Emcore (EMKR $15.30 to $1.30)
- Pat Dorsey: American Express (AXP $52.02 to $18.55)
- Gary B Smith: Bank Of America (BAC $41.26 to $14.08)
- Scott Bleier: Marteck Biosciences (MATK $29.58 to $30.31)
- Patricia Powell: Potash of Saskatchewan (POT $143.96 $73.22)
Cavuto:
- Gary Kaltbaum: Oracle (ORCL $22.58 to $17.73)
- Charles Payne: Washington Mutual (WM $13.61 to $0)
- Jill Schlesinger: BLDRS Emerging Markets 50 ADR Index (ADRE $55.04 to $27.31)
- Peter Schiff: streetTRACKS Gold Shares (GLD $82.46 to $86.52)
Cashin' In:
- Wayne Rogers: BE Aerospace (BEAV $52.90 to $7.69)
- Matt McCall: CNH Global (CNH $65.82 to $15.60)
- Jonas Max Ferris: Nakoma Absolute Return Fund (NARFX $23.06 to $22.06)
- Jonathan Hoenig: CurrencyShares Mexican Peso (FXM $91.98 to $73.81 )
There you go. Peter Schiff wins with GLD, followed by Scott Bleier with MATK. Nobody else finished in the green with their pick. Do you think you should follow their must own stocks for 2009?
In Edit: It's only fair to list my prediction for 2008. Yikes.
I'm 100% long. The Presidential Election Year is normally a good one for stocks. Years ending in 8 are usually good. So despite today's fear and gloom slamming stocks, I think we're heading higher. Buying opportunity!
My prediction? SP500: 1675. Continued slow growth, low unemployment, low inflation, and no recession. Housing will continue to slide, but housing inventories will begin to come down as new construction continues to slow and people decide to just live in their homes and make their monthly payments.