Was a company you own at Davos? Then sell.


What was the CEO of a company you're an owner of up to this week? An index of companies whose execs regularly attend Davos has vastly underperformed the market since 2009.

Attendance at the gathering tends to be dominated by the financials, with GS, C, HSBC, JPM, LAZ, MS, SCBFF, BAC, ITUB, and UBS leading the way to prove their bona fides as thought leaders. Also spotted were the heads of DOW, and PEP.

Notably absent: Buffett (BRK.A, BRK.B) , Tim Cook (AAPL) (Jobs never attended either), Jeff Immelt (GE), and Virginia Rometty (IBM). Google's (GOOG) founders and Mark Zuckerberg (FB) stopped going a couple of years ago.

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Comments (28)
  • rich06969
    , contributor
    Comments (196) | Send Message
     
    (KO) CEO was there on cnbc.
    24 Jan 2014, 07:36 AM Reply Like
  • Mike Maher
    , contributor
    Comments (2862) | Send Message
     
    Big European financials drag that average down.
    24 Jan 2014, 07:53 AM Reply Like
  • ArtL70
    , contributor
    Comments (2) | Send Message
     
    So was CEO of CSCO
    24 Jan 2014, 08:06 AM Reply Like
  • mostserene1
    , contributor
    Comments (3692) | Send Message
     
    I'd rather evaluate on the fundamentals, but each to their own.

     

    To me, CEO's at Davos being a sell sign is like looking at the entrails of a goat, or selling when a comet crosses the sky, or using technical analysis.
    24 Jan 2014, 08:08 AM Reply Like
  • chopchop0
    , contributor
    Comments (5156) | Send Message
     
    at least the goat entrails traders don't pretend to have facts on their side.
    24 Jan 2014, 09:27 AM Reply Like
  • philipmax
    , contributor
    Comments (420) | Send Message
     
    What!!
    You don't use goat entrails to predict market moves?
    Now, what am I to do with my goat entrails market momentum velocitors?
    24 Jan 2014, 09:31 AM Reply Like
  • IgnisFatuus
    , contributor
    Comments (2734) | Send Message
     
    The reading of Goat entrails should not be discounted so quickly....
    24 Jan 2014, 09:35 AM Reply Like
  • Flylooper
    , contributor
    Comments (8) | Send Message
     
    You can always use them for sausage casings. :)
    24 Jan 2014, 09:42 AM Reply Like
  • oboist1
    , contributor
    Comments (45) | Send Message
     
    I have to agree. Using Davos attendance as a "sell signal" is in the same league as the Superbowl indicator or cocktail party tips.
    24 Jan 2014, 08:36 AM Reply Like
  • DoowopDave
    , contributor
    Comments (253) | Send Message
     
    Too late - should have warned us a week ago. Brian Moynihan there and BAC already down.
    24 Jan 2014, 09:01 AM Reply Like
  • BlueSeas
    , contributor
    Comments (247) | Send Message
     
    I seem to remember the same thing about CEOs who end up on the cover of big business magazines. I suppose if the CEO has time enough to interview he isn't hungry or worried enough about growing business.
    24 Jan 2014, 09:04 AM Reply Like
  • Momintn
    , contributor
    Comments (6056) | Send Message
     
    Yesterday when CNBC showed the map of European markets down in red, the tiny Switzerland was up. What a fraud on investors and rigged markets all over the world from the ridiculous futures and currency manipulation.
    24 Jan 2014, 09:16 AM Reply Like
  • TBV
    , contributor
    Comments (177) | Send Message
     
    What are you smoking? Eric Schmidts is an advocate of the forum

     

    Eric Schmidt is an American software engineer, businessman, and the executive chairman of Google. In 2013, Forbes ranked Schmidt as the 138th-richest person in the world, with an estimated wealth of $8.3 billion. Wikipedia
    24 Jan 2014, 09:17 AM Reply Like
  • gregoirep
    , contributor
    Comment (1) | Send Message
     
    And Eric is one of the nicest folk in high tech. Knew him from 88 when he was the head of software product development at Sun. Great guy, hard worker!
    24 Jan 2014, 02:18 PM Reply Like
  • JH001
    , contributor
    Comments (32) | Send Message
     
    Arrrgggghhh -- ... company you're an owner of .... NOT ...... company your an owner of ..... Plus, birds of similar feathers are attending Davos so generally the businesses are in challenging segments. It isn't the attendance of Davos acting as a drag on the business nor can you make any assumptions about future performance based on attending or not attending.
    24 Jan 2014, 09:55 AM Reply Like
  • David at Imperial Beach
    , contributor
    Comments (4382) | Send Message
     
    The article is correct, your "correction" of the usage of "you're" is incorrect.
    24 Jan 2014, 10:08 AM Reply Like
  • 353165
    , contributor
    Comment (1) | Send Message
     
    I was just watching CNBC interview Eric Schmidt.
    24 Jan 2014, 09:58 AM Reply Like
  • Booyakasha
    , contributor
    Comments (32) | Send Message
     
    My goat entrails just formed a Fibonacci retracement. Just sayin'...
    24 Jan 2014, 09:59 AM Reply Like
  • User 32957
    , contributor
    Comment (1) | Send Message
     
    It seems that the companies that need to conspire attend Davos, while those that focus on their own business are absent.
    24 Jan 2014, 09:59 AM Reply Like
  • minwyhe
    , contributor
    Comments (109) | Send Message
     
    Come on people GE has been beaten to death by pundits and responders on seekingalpha. Lets put it to rest. The company has terrible leadership and is mired in what it wants to be. Just decide to stay with it or sell it and lets stop the inane prattling and hope something happens either way.
    24 Jan 2014, 10:03 AM Reply Like
  • chopchop0
    , contributor
    Comments (5156) | Send Message
     
    I can't wait to get back to even in GE.... that large-cap dog turd is out of my portfolio when that happens.
    24 Jan 2014, 10:42 AM Reply Like
  • swaps
    , contributor
    Comments (1573) | Send Message
     
    A big talking point on CNBC yesterday was that Davos attendees are now very concerned about the lower 20 percent, the ones who are jobless and not working. The interpretation is that the one percent is miffed they are not getting to milk the idle poor. They are not contributing to the grand poobahs. But economic deconstruction from time to time is just the collateral damage from attempts to manipulate the economy through interest rate and money supply manipulations. As Greenspan keeps saying. He did not see it coming. And Benranke and 'Bama have not been able to repair all the damage still left behind by corporate America in its own quest for survival.
    24 Jan 2014, 10:03 AM Reply Like
  • mydogmoe
    , contributor
    Comments (1356) | Send Message
     
    I've read a lot of goofy predictions on Seeking Alpha. This guy must write David Letterman's ten reasons to sell a stock...
    24 Jan 2014, 11:45 AM Reply Like
  • FleetUSA3226
    , contributor
    Comments (874) | Send Message
     
    Hubris, of course.

     

    I had a boss who looked poorly on any companies building flashy new headquarters buildings.
    24 Jan 2014, 12:04 PM Reply Like
  • RS055
    , contributor
    Comments (5377) | Send Message
     
    Davos is an exercise in vanity and poor taste. And at a time in history where it comes across as particularly tone deaf . If the attendees really really have urgent intellectual discoveries to share they could do so in smaller groups at some university without any fanfare. No that is not what this is about at all.
    24 Jan 2014, 12:12 PM Reply Like
  • Those Who Wait
    , contributor
    Comments (855) | Send Message
     
    RS055: "an exercise in vanity and poor taste"? Think Kappa Beta Phi. That's
    a smaller group. http://read.bi/1g9OOf8
    24 Jan 2014, 04:06 PM Reply Like
  • san-diego-shad
    , contributor
    Comment (1) | Send Message
     
    Would you sign a NFL free agent that made the Madden cover this year? A little truth to every trend.
    24 Jan 2014, 12:30 PM Reply Like
  • starcorral
    , contributor
    Comments (1644) | Send Message
     
    Didn't give a crap to read the story, but knew I'd find a lot of comments about goat entrails and such. Made me laugh and cough so hard (I'm 4 days deep into a serious influenza) that left a trail going to the bathroom, felt what was like an eardrum bowing out, and contaied a sneeze that made me partially bling with swelling in my right eye.
    24 Jan 2014, 01:04 PM Reply Like
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