Thursday, October 16, 2014
Magna, yet another chart that shows how stupid this market has become
Magna, the premier North American independent auto parts manufacturer:
Why yes, I would agree that it's perfectly reasonable to puke down Frank Stronach's gem by 25% in the space of a month, given our place at the start of a ten-year US secular bull market, with dropping oil prices about to give American consumers increased savings that they can use to buy new cars.
Especially considering Magna has been growing like crazy for the past twenty years non-stop.
Because reasons! And after that, more reasons!