Ken Langone's Top Stock Picks - Schlumberger, Eli Lilly, And Facebook

Loading...
Loading...

Legendary investor and co-founder Home Depot Inc HD, Kenneth "Ken" Langone was on this week's edition of Wall Street Week where he discussed his current top-picks - of Schlumberger Limited. SLB, Eli Lilly and Co LLY, Facebook Inc FB. Here is what Langone said about these stocks.

 

Schlumberger

 

Langone was asked the stock he thinks currently presents the same opportunity that Home Depot did 30 years ago. He replied, "Schlumberger, right now. They are very best at what they do. We are going to use oil for a long time. Oil prices are going to go up and even if they don't go up you are still, when you want to discover oil you need their technology."

 

Eli Lilly

 

On why he still maintains a large stake in Eli Lilly, Langone said, "Let me tell you why I love Lily. First of all I own a whole lot of it. But secondly, if you believe in a stopped clock being right twice a day, Lily's turn is coming. It has had really nothing new in the way of molecular discovery for 10 years, 12 years. They spent $39 billion in R&D in last 10 years, something is going to happen eventually."

 

Facebook

 

Langone revealed that he owns Facebook's stock, but he doesn't uses the company's service. When asked why he still owns it, he replied, "I got people around me that say to me 'you should own this stock' and I say 'why?' and they say 'because it's going to continue to do well and it's going to grow and it does this and that' and I said 'fine'. You bet on people."

Loading...
Loading...
Posted In: Media
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...