I happen to be a big believer in the idea that subjects like psychology, philosophy, and theology can have real-world investing applications, and the market's treatment of Manitowoc (NYSE: MTW) reminds me a bit of William James' "Will To Believe" lecture. Although the recent trends in construction and QSR traffic haven't been all that encouraging, the market is still willing to value Manitowoc on the basis of the belief that trends will improve later this year. I don't think Manitowoc is necessarily overpriced today, but I do wonder if there aren't better plays on some of the same underlying themes.
Strength In Margins Bodes Well
Manitowoc's sales came in basically as expected, but investors have reason to be encouraged...
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