Monday, July 3rd, 2006
Guru says avoid Google.
Growth manager Fred Kobrick has warned investors to avoid internet search darling Google warning the stock indicates an obsession with momentum and quick returns. “Google is kind of a metaphor for investing today. People want a short-term fix and they want something that has momentum,” he told CNNMoney.com. “People with a lot of money in Google aren’t sure, other than that it’s a household word, why they own it.”
Google has held up amazingly well in the June sell off, holding above its 200-day moving average, but the stock is facing resistance as it moves towards its record highs.
Word Count: 96. This entry was posted on Monday, July 3rd, 2006 at 7:46 pm and is filed under Stock picks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
