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There truly are very few places to hide during the current financial crisis and economic recession. Trust in the markets is at an all-time low, and volatility is at an all-time high. The most senior of professionals in this business are shaking their heads in amazement.
We have not seen anything like this during our lifetimes. When it will end is anyone's guess. The silver lining, I suppose, is that it will indeed end at some point. When it does, investors can look forward to a landscape of well-run companies trading at discounted prices.
One of my favorite blue-chip names that have been taken down along with everyone else is Walt Disney Co. (NYSE: DIS).
I wrote about the company in early September when times were tough, but before the financial crisis brought its wrath. At the time, I thought shares were undervalued at a price just north of $30 per share.
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