I don't know which is more impressive: That the town of Wichita Falls, Texas, has suffered 100-degree heat for 44 days straight, or that the Dow just came within inches of postings nine days of consecutive losses -- its longest losing streak in 33 years.
You're probably more interested in the latter. And after stocks' pullback, and a flight-to-safety in Treasuries, the average Dow stock now yields more than 10-year bonds. History is kind to stocks when that situation occurs.
Does that mean markets are about to hit a big upswing? No. But it means a few high-quality stocks now deserve more of your attention. Here are five such candidates.
"I didn't note any permanent impairments" in the company's earnings reports, Anand wrote this week. "Waste Management's stock has dropped to its 52-week lows without any signs of long-term fundamental weakness."
Waste Management now trades at 15 times earnings, compared with an average of 24 times earnings over the past two decades. High-quality companies deserve high-quality valuations. Waste Management doesn't have one right now. Take advantage of that.
Since 2006, the national unemployment rate has nearly doubled. Yet Paychex's earnings per share have increased 16%, and dividends per share have doubled. Shares are down 12% over the past month, pushing the dividend yield to 4.6% -- about twice the market average. Earnings will get a nice bump if employment or interest rates rise, since Paychex earns interest on cash it holds for customers. Have patience. This high-quality company will treat long-term investors well.
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