I wasn’t planning on commenting but I guess I need to. What a day. I can’t say a correction is suprising, but one of this magnitude is. The names that look interesting today are the
- M&A (à la Lazard) Advisory firms, and some brokerages.
- Utility and electricity companies ( à la AES, Aqua America)
- Nothing related to retail investors, such as mutual funds and online brokers, such as T. Rowe Price and OptionsXpress. (<– This only applies if there is another leg to this downturn)
- I’m buying shares in companies who did well last May, such as VF Corp.
Let’s see what happens tommorow.
I own shares in OXPS, AES, VFC