The U.S. stock market closed a mixed week.
The S&P 500 closed the week flat. The Nasdaq fell 0.29%, while the Dow Jones eked out a 0.98% gain. Global markets continued their strong run as the MSCI Emerging Markets Index rose 0.90%.
Mohnish Pabrai’s Fiat Chrysler Automobiles N.V. (FCAU) jumped yet another 4.34%. This position is up a remarkable 46.99% since my Aug. 11 recommendation.
Berkshire Hathaway (BRK-B) hit a new record high after rising 2.83%. JPMorgan has put a $210 target price on the stock. Bill Ackman’s bet on Restaurant Brands International (QSR) also rose 2.40%. Carl Icahn’s PayPal Holdings (PYPL) gained 2.03%.
Seven of your positions — PayPal Holdings (PYPL), Restaurant Brands International (QSR), Liberty Broadband Corporation (LBRDK), Fiat Chrysler (FCAU), Baxter International (BAX), Berkshire Hathaway (BRK-B) and the Vanguard FTSE Emerging Markets ETF (VWO) — boast double-digit-percentage gains. PayPal is now up over 56%.
Kraft Heinz (KHC), The Priceline Group (PCLN), Liberty Broadband Corporation (LBRDK), BlackBerry (BBRY) and The St. Joe Company (Joe) are all trading below their 50-day moving averages and are currently HOLDs.
I recently listened to a podcast interview with Bridgewater’s Ray Dalio, who invested in the Vanguard FTSE Emerging Markets ETF (VWO).
In the interview, Dalio cements his reputation as a bit of an oddball. Dalio embraces a principle of “radical honesty,” which he implements at Bridgewater.
As a random fact, I have since found out that former FBI Director James Comey worked at Bridgewater. He lasted three years.
Nicholas A. Vardy