24 S&P 500 Stocks Up Over 100% Since Lehman Failed
Hope everyone enjoyed their “Lehman 3 Year Bankruptcy Anniversary” parties this weekend – I am sure Dick Fuld and his $350M did. (clawbacks anyone?) While the Lehman bankruptcy in fall 2008 was not the bottom – that didn’t happen until March 2009, we’ve had a historic rally for much of the past few years. While I do often complain this is a bipolar market where stock picking is often useless, there have been time frames that was not true. And even in the bipolar market some stocks hold up much better in selloffs, and rally more during the up days.
Bespoke lists 24 stocks in the S&P 500 which have returned at least 100% – amazingly the top dog Netflix (NASDAQ:NFLX) is down 40%+ in the past two months or else its return would have been even more stupendous. My most memorable idiot move on the long side the past few years was selling out of #2, Priceline.com (NASDAQ:PCLN) when I thought it was ‘fully valued’ and had ‘run too far’ in the low $200s. Even worse – never buying it back, as I awaited a ‘serious pullback’. Doh.
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Trader Mark is the author of Fund My Mutual Fund.