Bullish on J.C. Penney, Despite Doubts

The CEO says most Penney stores will have 40 new brand-name shops inside them by late 2013.

Three of my four favorite stocks for 2012 are up an average of 23%. The other is in the witness-protection program, and its name can’t be divulged. Okay, okay, it’s J.C. Penney (symbol JCP), down 15% since I blessed it in my January 2012 column. I think I have some explaining to do.

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Andrew Feinberg
Contributing Columnist, Kiplinger's Personal Finance
Feinberg manages a New York City-based hedge fund called CJA Partners.