Did things fundamentally change for coca cola,mcdonalds,phillip morris,3M,pepsi from last week?
Those companies were just victims of a huge sell off. Frankly most are trading at cheap forwards earnings valuations, this sell of is borderline comical and criminal at the same time. Yes the economy is in some deep doo doo, but really even all these people struggling, they're going to be affected when it comes to purchasing mcdonalds and it's $1 menu products? Or even a 75 cent can of coke? These companies aren't affected by commodity pricing like say oil prices like exxon or chevron would be, those companies sell cheap products that continue to be bought in good times and bad.....oil prices go up and down, coca cola prices don't.
I don't see why you would sell, I hold,enjoy growing dividends and I bought alot more of my favorite 4 or 5 companies today.
In the long run, this 300 pt drop will be comical in say 2030 if you hold and reinvest the dividends till retirement
The real problem is everyone thinks they're fricking george soros and wanna time the market and buy and sell the news etc leading to days like today, read the following piece, if you bought 1, yes 1 share of exxon like 40 years ago and added just $100/month youd be a millionaire today LINK
become an accumulator, buy solid companies and add add add....no eastman kodak wasn't a solid company, we dont need film today, I cant envision a world in which we dont need coca cola, mcdonalds, cigarettes, etc
This post was edited on 6/20 at 4:26 pm