We don’t know if we’re in a recession, a “Great Recession” or a depression. All we do know that the stock market is anything but predictable right now.
Kroger (NYSE:KR) investors are seeing strong gains today as generic brands prove their worth. The recession may be hammering most retailers, but select niches are doing very well.
One of the only markets that still offer massive upside is that of healthcare. One company recently received FDA approval to test two breakthrough drugs.
This company has already soared 50% in a week’s time. But the fundamentals say this company is primed for a long-term climb up the charts.
In the October 6 issue of Forbes, columnist Claire Obusan tells the surprising story of Eli Broad:
“Broad should be a lot poorer this year. Worth $7 billion last fall, the insurance and housing maven saw his 46.6 million shares of AIG – received a decade ago when he sold his SunAmerica to the insurance giant for $18 billion – drop 70% between last summer and August 29, the day we priced the Forbes 400 (they’ve fallen much further since). That decline erased $2 billion from his personal balance sheet. But Broad’s net worth fell only $300 million. One reason: the soaring value of his 2,000-piece art collection. Comprising mostly contemporary pieces by artists like Jeff Koons, his collection was recently appraised…
During our economic downtime, people are talking about how we’re going to survive on the margins. How are we going to pay for gas, clothes, food or even shelter? But there is another area of the economy that has gone largely unnoticed. What about the luxury goods?