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Stock #2: Johnson & Johnson (JNJ)
Another name to consider is Johnson & Johnson (JNJ). Although shares of JNJ could not escape the carnage of the fall, the company is one of the best in the industry and is likely to stay that way for some time.
Some of the selling pressure may be attributed to Warren Buffett reducing his position in the company. Recently, in an end-of-year filing, Buffett’s Berkshire Hathaway stated that it had shed a number of JNJ shares.
With all due respect to the Oracle of Omaha, what was he thinking?
The guy deserves all the respect in the world, but that doesn’t mean he won’t make mistakes occasionally. He’s making one here, and I’ll simply assume that his selling was done for reasons other than underlying belief in the future of the company.
Even after the sale, he does still own a significant number of shares. You should do the same.
5 Stocks You Don’t Have to Worry About
Article printed from InvestorPlace Media, http://www.investorplace.com/2009/02/five-stocks-to-buy-and-hold/.
©2012 InvestorPlace Media, LLC
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