Hedge fund manager begs people to buy Toyota stock

[crgarcia]

Quote from BPtrader:

Feb. 11 (Bloomberg) --

Peter Sorrentino, a fund manager at Cincinnati-based Huntington, said he may buy shares of the world’s largest automaker. Toyota has slumped 19 percent since it began a recall of millions of vehicles to repair problems linked to unintended acceleration on Jan. 21.


“Toyota is clearly more attractive now although the worst is probably not over for the company,” said Sorrentino, whose firm holds $12.8 billion including Toyota shares. “We’re not averse to adding to our position. We like their long-term prospects. We think a Toyota stock bought this year is going to pay us in years to come.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=aakwoH9rYH68&pos=5

Despite the recalls, Toyota is a good company.

I would buy it's stock if it were not because I think the markets may go down (or at least not continue to rise) as banks sell to return TARP funds.

 

[Kalparker]

I think to much negative press on Toyota has affected there stock and sales. I still think they make good cars, and that will show after they finish there recall and do some good advertising. It also doesn't help when two of your biggest American competitors are owned by the US government. I still would rather drive a toyota or lexus over any American brand car.

 

[cactus_trader]

TM will bounce back as a company. Several years ago people thought Ford was dead due to the tire issue. Most have forgotten and moved on.

 

[Hombre]

Quote from OTCkrak:

hedge fund from Cincinnati .. lol

You are right, Lehman brothers from Wall Street sounds much better..

 

[Hombre]

Quote from Jesus:

This is a a temporary difficulty toyota is facing. Recalls happen all the time in the auto industry. In three-five years I would bet my house that toyota stock will be higher than it is now.

I don't own any toyota shares because there are better deals out there, but I have seen this scores of times and toyota will recover, trust me.

What are better deals ? I feel like sitting on the fence right now.

 

[CaptainObvious]

Toyota is not quite the deal Ford was a year ago, but if you're a longer term player it's priced right for some nibbling.

 

[ammo]

with the falling price of real estate and the number of homeowners owing more than their home is worth, add in rising unemployment, very few new jobs, the ability to sell new cars is going to get much tougher,we are going to keep seeing things hit for price reduction, toyota's a buy when people start buying new cars again,they will be selling all of their 2010 models in jul/aug for cost