- A buy limit order I had set for Ford executed Thursday at $12.25. This was the third of four tranches I’ve purchased for the position.
- Wells Fargo did me a favor by double-downgrading the stock and slashing the price target from $24 to $12.
- This caused the stock to sell off hard Thursday, triggering the Buy limit order. Even so, the stock has bounced back nicely today and is up nearly 9%.
- Sometimes it pays to have a contrarian mindset and buy a stock at the point of maximum pessimism when others are panic selling.
- In the following piece, I explain my thought process and lay out the contrarian bull case for Ford.
For further details see:
Ford: A Fool And His Money Are Soon Parted