The markets have seen some significant gains since their March lows. Each time this occurs there is a new round of experts calling the bottom. Time and time again the market throws them a cruel twist and heads lower. Will this time be different?
Recently, Daniel Gross in a Newsweek article stated, "The Great Recession, which rolled over our financial lives like one of P.J. Keating's giant pavers, is most likely over." He went on to make the following observations in the article:
Not surprising, a lot of the hardest hit stocks have seen the largest increase off their 52 week low. Based on August 4, 2009 prices, these would include: General Electric (GE) 141%, U.S. Bank (USB) 169%, Manulife Financial Corp. (MFC) 249%, AFLAC Inc. (AFL) 268%, Bank of America (BAC) 518%.
Not all dividend stocks have fully enjoyed the recent run up. Some are still relatively close to their 52 week low and are fairly valued based on my buy price. Based on August 4, 2009 prices, here are some to consider:
I look at a market recovery as a bitter-sweet event. For a dividend investor, buying stocks at a highly depressed price is a Godsend, but for the market to remain healthy and liquid, it must eventually rise.
Full Disclosure: Long MFC, AFL, PG, SYY, MCD, WMT. See a list of all my income holdings here.
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