With Christmas shopping taking center stage, let's not forget that the Jewish Holiday of Hanukkah starts in a week. For those of you looking for a gift to get a loved one, give them the tip to buy these two stocks.
Washington Mutual (NYSE: WM), I had my first passbook account with the bank about 30 years ago. Back then it was known as "a friend of the family." Since then they have become one of the largest banks in all of the US, and are at the center of the whole subprime mess. That being said, the stock has gotten absolutely crushed and at about $17/share, and a dividend yield over 12% this looks intriguing. Yes, I know that Washington Mutual might cut the dividend, but even if the company slices it in half it's still more than 6%. I say go for it!
Celgene (NASDAQ: CELG) the biotech star has lost some luster falling over 20% in the last 5 weeks. Its cancer drug Revlimid is a true blockbuster and I expect continued strong earnings for the company. Historically, each time Celgene has dropped 20% it has become a really good entry point and this time should be no different.
Happy Hanukkah.
Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. Disclosure: Writer holds a position in CELG. He has no position in any other stock mentioned as of 11/21707.
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