• The Five Biggest College Myths

    By Bernice Napach | Daily Ticker – Fri, May 24, 2013 8:28 AM EDT

    It’s the conventional wisdom that students and parents do their research on colleges and costs before making any commitment to attend a particular institution.

    A public college or university will cost close to $9,000 a year for tuition and fees for in-state students and $21,000 for out-of-state students, according to the College Board. A private college or university will run about $28,000 per year on average, and many cost more. Add room and board and the costs are close to $50,000 for four years at a state institution and $168,000 at a private one.

    Related: America's Student Loan Crisis: Generation I.O.U.

    Jeff Selingo, editor at large of The Chronicle of Higher Education, and author of College Unbound: The Future of Higher Education and What It Means for Students, says America’s higher education system is broken because the enormous costs don’t justify the results. He appeared on The Daily Ticker special “Generation I.O.U.” event and shared his the biggest myths surrounding college:

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  • The problem with having a "buy the dip" strategy is that sell-offs are the scariest time to put money into stocks. People sitting on the sidelines have spent nearly 6 months telling themselves they were going to get long as soon as they got a meaningful pullback. Now that the most serious drop of 2013 is upon us the question is whether or not it's a good idea to be getting long when China is contracting, the Fed might taper, and stocks are still arguably way overbought.

    Todd Schoenberger, managing partner at LandColt Capital, mocks the idea of taking profits and hitting the beach. "No Way! Are you kidding me?" he shouts in the attached clip. "If the markets go down 2 to 5% it's a great entry point for your viewers to get back into the market. Dow 16,000 by the end of the year."

    The Dow Jones Industrial Average (^DJI) topped just over 15,530 on Wednesday morning. For those not carrying a slide rule at the moment, a 5% correction would put the Dow at 14,750, give or take. From there a recovery to 16,000 would be a gain of 8%. That's just the arithmetic, not a trading thesis.

    Schoenberger's idea on the sectors that will do well into a pullback and during a subsequent recovery are oil and gas, travel and leisure, and almost anything multinational. As he sees it the DC ineptitude and geopolitical risk are priced into the tape.

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  • Stocks are trying to log their fifth straight week of gains. The Dow dropped about 12 points yesterday, putting it roughly 50 points shy of where it opened on Monday. The S&P dropped nearly five points yesterday, but is ahead about 15 points on the week. Right now, many traders are turning their attention to Japan where the Nikkei was jumping around today. Yahoo! Finance Senior Columnist Mike Santolis has more in the video above.

    What's old is new at Procter and Gamble (PG). As of last night, A.G. Lafley is again CEO of the comsumer products giant. He replaces Robert McDonald, who ran the company for the past four years. Under his watch the company struggled to win over cost-conscious customers. It's also had trouble getting new products into the pipeline. Recently activist investor Bill Ackman has been calling for change. Procter and Gamble stock is up 13% year-to-date and twice that much over the past year.

    Google (GOOG) and Facebook (FB) may be about to get into a billion dollar

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  • Abercrombie and Fitch (ANF) is down 12% after releasing a dismal earnings report at 7am. The clothing company says it lost 9-cents a share, less than the 25-cents it lost a year ago, but still almost twice as much as estimates. Revenues also missed by more than $100-million dollars. Same store sales are down 15% from a year ago. The chain says that's largely because of inventory shortages. Up until this morning, Abercrombie shares have been up 14% year-to-date.

    Next is an Abercrombie competitor, Gap (GPS), which has seen its shares drift as much as 5% lower after releasing its earnings. The company beat estimates on both the top and bottom lines posting 71-cents a share on $3.73 billion in revenue. The quarter was also a marked improvement over the same period last year when earnings were 47-cents a share. The company was helped by a rise in same-store sales at its namesake Gap stores as well as Old Navy stores. Growth in Asia was also strong. Shares of the Gap are up 53% over the

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