Indeed. And I need to relate a story about a wider issue.
I don't own it, but CLX has been a perma-riser most of its existence. There have been a bunch of structural breaks from the beginning of the chart on Slopecharts in 1983 - but the big one was in 2020, when the bull case was everybody would be using gallons of their products every year, turned out to be not correct. That was the peak, and it's been downhill since. 6 years worth of dropping. The drop since 2020 in magnitude and duration now exceeds the previous worst drop, of 1999 to 2001.
What's worrying to me is CLX is not alone among perma-risers, which are now all failing, and which are most of my portfolio. That portfolio has zigged when the market zags, that's happened all year, and is negative for the year. Perma-risers as a group are well run companies, typically fairly established, leaders in their fields, well managed, with durable brand names and products.
Yet they're all getting killed, as the market rewards AI innovation, capex spending, and speculation, and punishes what used to be decent blue chip companies. I'm getting out - this could go on for years, I need to reluctantly join the crowd, as I could get killed pretty badly if I lose 1% every day while the indexes gain 1%.
Just a mild rant as CLX is a decent company that is getting killed along with a lot of other decent companies. It could be years before it turns around, or maybe it's permanently broken and the market only wants growth. Beats me. 14 hours 53 minutes ago
@MrWizard It's the result of internet/devices creating a collective mindset of instant gratification need. The market is a strong reflection of the collective, IMO. 13 hours 53 minutes ago
Violet
