When Guru Bets Go Sour: There’s no such thing as a 100% safe bet on the stock market, and sometimes, even our billionaires are off with their buys. We’ve compiled a list of their biggest misses and stocks they purchased at much higher prices than what they’re worth today.
Guru bets gone bad
To identify potential opportunities, it’s a good idea to look at a stock’s performances in recent weeks and months as well as how it’s done YTD.
JCP, AU, GDX and MOS: The Comeback Kids?
This year hasn’t been pretty for J.C. Penney Inc. (NYSE:JCP). The retailer’s stock price fell to its lowest point in history this month, hitting $6.24 on October 21st. This week, it looks like the tides may be changing for JCP. Over the past seven days, the stock has increased +9.12 to reach $7.60.
Another company that may be making a comeback is AngloGold Ashanti Limited (TSE:AU) (NYSE:AU). Though the stock is down -48.75% year to date, it increased a bit today, up +0.87% to $16.19. It did well over the weekend as well, performing +0.16%.
Market Vector ETF (NYSE:GDX) may also be on the road to recovery. Though the stock has performed -45.27% YTD, it increased +1.24% over the weekend to $26.23.
After a -18.4% decline over the year, The Mosaic Company (NYSE:MOS) rose +1.77% to $46.68 this past week. Its comeback is by no means a sure thing, however, considering that the stock dipped again today, falling -0.53%.