Now’s the Time to Buy Something

July 24, 2008

…(I received an) email complaint about my being a broken record in regard to the airlines. It noted that I recommended these stocks at much higher prices and recommended doubling-up half-way down. What can I say? I did recommend the stocks again and again and I still do. I have strongly recommended Continental (CAL) since it was trading around $6 per share in 2002. CAL just reported an amazing quarter (Call Transcript). With oil prices at ridiculously unsustainable levels, the company added about $500 million dollars to its net cash position! How much will it add when oil prices are down?

One of the reasons I write about the airlines so much is because the boom in international travel (still is in its infancy) is part and parcel to this new wonderful economic age that we have entered. A new age that is being totally mis-characterized by left leaning media.

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