Long-term GE investors fret, fume over stock slide
David Pepper has lost the faith.
Pepper, a long-time devotee of both General Electric Co (GE.N) shares and buying stocks and holding them, said that GE’s recent stock slide has destroyed his faith in the stock and the company’s management — and has caused him to question his overall investing strategy.
“I used to have so much faith in this company I wanted to own GE shares for the rest of my life and pass them on to my heirs,” said Pepper when asked about GE and its besieged chief executive, Jeffrey Immelt. “But shareholders have paid a heavy price for the excesses of management, which have sadly led to the rapid decline of the crown jewel of the S&P 500.”
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This article was originally posted on Reuters