I'm finding it difficult to branch out here as I keep asking myself, what are people going to buy the rest of this year and probably next. For example, I like GM at this price but very few are buying cars in this environment. And, I'm not buying any great company with a P/E in the mid 20s, (HD, MCD, WMT, etc., etc.)
If there's any theme to my three recent purchases it's the following:
1. I don't want to buy your services but I need them, (IRM & MPW)
2. It's just basic retail, nothing fancy but necessary, (WBA)
3. The market has taken a club to your price and raised value.
I don't think any company that depends on higher end consumer discretionary spending will do well, (unless you serve the 1%). Almost everyone can wait to buy things like washers & dryers, refrigerators, air conditioners, tools, computers, televisions, smart phones, jewelry, cars and trucks, home and office furnishings.
Ideas?
