Is the Board of HP out of its mind ... bipolar? They obviously should all resign. We are seeing the destruction of a formerly fine company with fine products. How much money have they paid the ex-CEO? The ex-ex-CEO? And now the new CEO? The directors? What a remarkable cluster FUBAR!
We bought a few stocks yesterday afternoon about 3:30 when the DJIA was down well over 500 pts: JPM, HBC, FCX. Those had been on the shopping list for awhile, but at the prices offfered then, we decided to start buying. Those are not trades, but are long term investments. Buys were made with 25% of the cash raised when the S&P was over 1300 a few months ago. We are looking for more buys/adds to make in high quality stocks with dividends over 3% and plenty of room to raise them, meaning that payouts should be under 1/3 of earnings.
Word of the Day
"Suppurate" - verb, intransitive [$10]
Suppurate means 1. to form pus; 2. fester.
Sentence: The self-inflicted wounds of HP continue to suppurate as the Board of Directors does nothing effective to cleanse them. Resign!