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MarketFoolery

Best Buy’s Best Day

MarketFoolery

The Motley Fool

Money, Business, Motley, Business News, Stocks, News, Investing, Market, Fool

4.71.7K Ratings

🗓️ 23 August 2016

⏱️ 14 minutes

🧾️ Download transcript

Summary

Best Buy shares spike on strong 2nd-quarter profits. Ron Gross analyzes Best Buy’s relative strength, as well as a new report on the restaurant industry. Plus, we dip into the Fool Mailbag.

Transcript

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0:00.0

It's Tuesday August 23rd. Welcome to Market Foolery. I'm Chris Hill joining me in studio today for Motley

0:06.8

Fool Deep Value.

0:07.8

Ron Gross. Thanks for being here. My pleasure. Always fun. In keeping with, I think every time I've asked you to be on

0:14.2

market floor this year I asked you with about 45 minutes before.

0:18.2

Say, hey in 45 minutes? That's how good I am. I can just pop right in.

0:23.0

And that's how bad I am at planning.

0:25.0

No, but it's always fun.

0:26.0

We're going to dip into the full mail bag.

0:28.0

We're going to talk about a new report out on the restaurant industry,

0:32.0

but we have to start we have to start with

0:33.9

Best Buy a holy do we have to because I I messed this one up so bad you know what

0:39.3

you're not alone in that we'll get to that in a second, but second quarter profits for Best Buy come

0:45.9

in much higher, much higher than anyone was expecting, and the stock is up 19% and it's hitting a 52 week high.

0:53.6

27% up year to date that stock.

0:56.5

Company I probably said more than once,

0:58.6

I'm not sure that we really need that company anymore.

1:02.2

Other analysts have sat in that chair and said basically the same thing.

1:06.0

You know, we can get to the numbers, but I think it's important.

1:08.0

It's almost a lesson.

1:09.0

Don't think your experience extrapolates to everybody else's experience, and I think that's a good analytical lesson to learn.

1:15.0

Just because you don't like a particular restaurant doesn't mean other people don't like that restaurant.

1:21.0

And so you have to think outside of yourself sometimes so specific to

...

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