Scary stuff in the news this week and the market is reacting. OIL UP, GOLD UP, STOCKS DOWN; what to do? For starters the down trend indicates more sell side pressure than buy side, however in the end there are an equal number of buyers and sellers and I have been one of the buyers.

Berkshire Hathaway (BRK.B or BRK.A) is one irresistible safe haven that is well-capitalized, diversified, and managed by the best in the world. If I want someone to help me manage my resources in good or bad times it is Warren Buffett, Charlie Munger and friends. It has very desirable fundamentals and I have owned some for a few years -- bought some more yesterday.

Washington Mutual (WM) is another stock I acquired some time ago in my Roth IRA enjoying their high yield (4.5%) and continue to watch it for an opportunity to buy more. The opportunity has not materialized, because over the last six months it has moved up considerably, even with issues of higher interest rates and a slower housing market. Now the market has been getting creamed this week and it has only been affected slightly. It was actually up today! Given their strong fundamentals of high yield and earnings, low P/E, and ever growing hard assets this is one to watch. They are also mentioned periodically as a potential acquisition target and this too probably supports the stock price a little. If the market continues to slide next week I may own some more.

Continue reading Scary market -- any safe stocks?

Scary market -- any safe stocks? originally appeared on BloggingStocks on Fri, 14 Jul 2006 17:58:00 EST. Please see our terms for use of feeds.