The bear market of 2001 and 2002 was a relative non-event for yours truly. Sure, I had a few duds, but stocks like Stericycle and Corporate Executive Board got me through the bear market relatively unscathed.
But a healthy slug of education stocks were my secret weapon. Hiding in the stocks saved me a lot of grief, and we are now in a similar spot.
Piggyback Ron Baron and his boys on the names; they know what they are doing here and have been long time holders.
And while David Rocker tried to stir up trouble at Credit Suisse’s March 2003 Global Services Conference held annually in Phoenix, the shorts are on the sidelines and Rocker is in retirement.
Too, the bankers running the conference are now at the helm of Apollo Group (APOL-NASDAQ) and the stock continues to provide a safe haven. True, you cannot eat relative performance, but Apollo might well enjoy a renaissance under the new management - CEO Chas Edelstein has only been there a few months, but bringing him aboard to join his banker bud Greg Capelli has the company pointed in the right direction.
And, as Julie Alexandria can attest, the wind is at sectors back, and although Grand Canyon Education (LOPE-NASDAQ) has to cut the size of the pending IPO, the fact they can get it done at all is a testament to the sectors relative strength.
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Grand Canyon Education cuts IPO price range by $4
Reuters
Previously
Ex-Credit Suisse Bankers Making Their Mark at Apollo Group
1440 Wall Street
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The content contained in this blog represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author. Position in APOL
I thought they did a new stock at its 52 week high everyday? Why are they deviating from the format that brought them so much success? $5 million bucks for two people and camcorder.... and they say there was real estate bubble. no wonder Sumner Redstone is broke.
P.S. on the other hand, good work howard lindzon, has he considered running a television network?
What is a 52-week? I vaguely recall the term, in a previous life.
Howard Lindzon has replaced Howard Stern as the King of All Media, and recently launched
www.stocktwits.com
I wonder what the IPO market will look like in the future with all these investment banks going down. I bet we’ll see a less liquid market for these as many are still bailing out of their mutual funds and we’ll need to wait for a change in beliefs about the current market.
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