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My Investment In Best Buy Has Yet To Deliver

 November 21, 2012 01:33 PM
 


My overall view of the markets has not changed much since early October.  My Best Buy (BBY) investment has yet to pan out, and the stock has dropped as the company has put out near-term warning. But we may soon see some clarity as to whether or not the founder will make a fully funded buyout offer.

The election is over, so that uncertainty has come to an end. However, I expect this to quickly be replaced by other uncertainties regarding US company earnings, the global economy, and the fiscal cliff.  As always, I am standing by, waiting for any opportunities that may arise from investors getting either too hopeful or too fearful.

[Related -Best Buy BBY Teaches Us Four Steps to a Trend Reversal]

The investments discussed are held in client accounts as of October 31. These investments may or may not be currently held in client accounts. The reader should not assume that any investments identified were or will be profitable or that any investment recommendations or investment decisions we make in the future will be profitable.

Certain information contained in this presentation is based upon forward-looking statements, information and opinions, including descriptions of anticipated market changes and expectations of future activity. The manager believes that such statements, information and opinions are based upon reasonable estimates and assumptions. However, forward-looking statements, information and opinions are inherently uncertain and actual events or results may differ materially from those reflected in the forward-looking statements. Therefore, undue reliance should not be placed on such forward-looking statements, information and opinions.

[Related -Sony Corporation: Top Black Friday Deals For PS3, Xbox 360]

Covestor Ltd. is a registered investment advisor. Covestor licenses investment strategies from its Model Managers to establish investment models. The commentary here is provided as general and impersonal information and should not be construed as recommendations or advice. Information from Model Managers and third-party sources deemed to be reliable but not guaranteed. Past performance is no guarantee of future results. Transaction histories for Covestor models available upon request. Additional important disclosures available at http://site.covestor.com/help/disclosures. For information about Covestor and its services, go to http://covestor.com or contact Covestor Client Services at (866) 825-3005, x703.

Brendan Ruchert-Dixon

I work full-time as a software engineer. Investing has been an interest of mine since college. I'm a patient investor

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