Feeling battered by the market? You're not alone.
The past few weeks have been a roller coaster ride for the stock market. If you are feeling battered by the market, you are not alone. Perhaps it helps, if only a little, to know that some of the best known names in the investing world are having an awful year as well. According to Yahoo Finance, here is the year to date performance of some of the biggest investing gurus:
Warren Buffet (Berkshire Hathaway): - 43 percent
Ken Hebner (CMG Focus Fund): - 56 percent
Harry Lange (Fidelity Magellan): - 59 percent
Bill Miller (Legg Mason Value Trust): - 50 percent
Ken Griffin (Citadel): - 44 percent
Carl Icahn (Icahn Enterprises): - 81 percent
And if you are feeling dismayed that your S+P 500 Index fund is down 45 percent or more, remember that many individual stocks are down much more. In fact, only 10 of the stocks in the S+P 500 are higher now than they were at the end of 2007. Just ten! And, there are another 10 stocks in the S+P 500 that have declined by 90 percent or more.
Furthermore, some of the worst performing stocks are very widely held. According to a New York Times article published this past weekend, the following stocks are held by the largest number of accounts at Charles Schwab:
Alcatel/Lucent: down 74.6 percent
Apple: down 58.3 percent
Bank of America: down 72.2 percent
Citigroup: down 87.2 percent
General Electric: down 62.2 percent
Intel: down 50.8 percent
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