Payne's Perspective:July 29, 2019: Earnings Season In Full Swing
We’ve hit the midway point of earnings season, and last week provided two distinct lessons for all investors.
Companies Evolve, and Worst-Case, Don’t Last Forever
I’ve always stressed the need to keep and refresh your potential “buy list” stocks that look intriguing and have an increasing sense of urgency. That list should be a part of a larger watch list, which should contain the great companies that have tripped up and lost their luster. The point is: great companies eventually stumble, and like champion pugilists, they don’t become great until they have overcome challenges and issues that may have knocked them off their perch. Over time, this will happen repeatedly, especially with companies that have been public for long periods - 100-year-old companies have lasted this long from a number of reinventions, evolving with current times and rivals.
The other end of this spectrum is the upstarts that get their comeuppance soon after becoming publicly traded. Last week saw examples of both.
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