Tom Armistead submits:

General Electric (GE) was for many years an iconic company, considered good as gold in the glory days when Jack Welch was at the helm. The company’s strength was seriously questioned during the meltdown in early 2009, and the last time I looked into buying it, shares were trading at 6.66, on 3/6/09. I didn’t buy any. It has since recovered to close Friday at 16.35. At the current price, GE represents a chance to follow the smart money into financials, with substantial gains if the company can regain its former performance and stature.

Buffett and GE – the smart money in this case would be Warren Buffett. Here is an excerpt from the 8-K, from October 2008:

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