Everybody Loves Best Buy Co., Inc. (BBY) Again

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The long-term outlook is bleak for Best Buy, but this afternoon I closed out my bearish CAPS call on Best Buy. It was good for a 51% gain since I initiated the call in late 2011. Barring a privatization, there will probably be another great time to bet against the company.

Next week’s report will be a bad one, but if Joly can get enough investors to buy into his long-term strategy, it won’t matter.

The article Everybody Loves Best Buy Again originally appeared on Fool.com and is written by Rick Aristotle Munarriz.

Longtime Fool contributor Rick Aristotle Munarriz has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Amazon.com and Apple.

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