WHAT ARE WE LOOKING FOR?
Let's find out who has taken an early lead in the Globe Investor My One and Only Stock Picking Contest.
MORE ABOUT TODAY'S SCREEN
Every year The Globe runs a stock-picking contest, asking selected experts and individuals for the best pick of the year. The stock must trade in Canada or the U.S., and have a minimum market capitalization of $100-million for Canadian stocks or exchange-traded funds, or $1 billion (U.S.) for U.S. stocks, ADRs or ETFs. U.S. investments are converted into Canadian dollars. The prize is a coveted Globe coffee mug and bragging rights.
WHO'S IN THE LEAD?
Ram Balakrishnan, who writes the well-regarded Canadiancapitalist.com blog, has taken an early lead riding Berkshire Hathaway Inc. Helped by a 50-1 stock split of the B shares, Warren Buffett's holding company has taken off this month while the rest of the market has slid.
The stock, which once traded at more than $3,000 per share, is now affordable for more investors, getting more attention in the press and trading volumes have taken off as a result. In a nervous market, investors are betting Mr. Buffett's Berkshire is one of the safer places to be. "If you don't invest in Berkshire, you will effectively be shorting the company, making a bet against Buffett," Larry Coates of Oak Value Fund told TheStreet.com recently.