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Gaurav S. Sharma's  Instablog

Gaurav S. Sharma
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My areas of interest and expertise include technology, biotechnology, and financial services, among others. I have a long-term strategy and am primarily a value investor who values both growth and dividends. My picks have consistently outperformed the market and I expect them to continue to do... More
  • SoL #4: The Market Came Back To Its Senses 0 comments
    Mar 4, 2014 10:43 PM

    After steep declines yesterday, stocks rallied today. Each of the major indices were up over 1%, recovering yesterday's losses and then some. this was enough to bring the S&P 500 to a new all-time high.

    ^SPX Chart

    After the recent Ukraine-fueled pullback, this represents a return to sensibility in my opinion. Why? I think Jim Cramer puts it best in his Bristol-Meyers Theorem: "What does the Ukraine have to do with the price-to-earnings ratio of Bristol-Myers?" Nothing. The fundamentals aren't affected at all by the tragic events in Ukraine. While, as I said in yesterday's blog post, I knew the market would be hurt by this, that is just because of irrational, short-term fear and not logical investing for the long term. The only way the company gets hurt here is if a world war results from this, which is next to impossible. That's why I think yesterday made no sense and today was what should happen after that.

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