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No. of Recommendations: 1
Fool disclosure rules prohibit me from mentioning what stocks I bought, but I went stock shopping yesterday and picked up shares in three companies. All three looked like decent deals based on their long term prospects assuming they survive the immediate craziness. In addition, all three looked like they have strong enough balance sheets to survive this mess (assuming, of course, that it is temporary).

Unfortunately, in doing that buying, I’ve burned through virtually all the investible cash I had available. So if the market resumes its slide, I’m pretty well tapped out at this point, aside from the automatic payroll deductions into my 401(k).

We shall see what the future brings, but I have hope. One of the other companies I’m invested in announced a share buyback program yesterday, one of the few companies to actually try to take advantage of their low share price. Ordinarily, I’m not a fan of buybacks because companies tend to buy their shares at high prices and stop to conserve cash when prices are low due to economic troubles. That this one was confident enough to announce a buyback after its shares have been pummeled during a clear economic slowdown means either its management has reason to believe it will survive or that that same management team is suicidally crazy. As an investor, I’m hoping for the former, of course.

In addition, I read some news stories over the weekend that researchers had found a two-drug combo that looked promising as a potential treatment for the covid-19 virus that’s driving the enforced economic shutdown. While it’s still early, it’s also some of the first good news I’ve seen on that front. It gives me hope that a treatment protocol will keep the health care system from being overwhelmed, and thus reduce the primary driver of the forced shutdowns.

Regards,
-Chuck
Discovery/HR Home Fool
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