While everyone is looking how to play defense in the bear market, I am going to concentrate on setting myself up for the next bull market.
Consumer discretionary goods are getting to get their ass kicked this summer fueled by high gas and food prices. This means any normal fund manager would want to avoid these stocks like the plague, but it will provide some nice opportunities if you know where to look.
I want to look for companies with long term staying power, good economics, and solid management. These companies should be able to survive the perfect economic storm, and will eventually be the big winners for the future.
One I am looking at right now is Dick's Sporting Goods (DKS). I am probably not going to buy it anytime soon, but it has potential for a long term play. I am going to start digging into its 10-Ks and see if it is a good opportunity for the future.
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