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  • 30 Reasons Why 3M Remains A Solid Long-Term Buy [View article]
    wdjaxOn - Auto (12%) and highway (5%) are "significant pieces" on the surface but you should think about them differently:

    1. Auto - aftermarket is a significant portion.
    2. Traffic related - while demand has remained moribund it doesn't "tank" because you always have maintenance spend.
    3. These are channels more than "end markets" and not so much being "speced in" on a model like an "auto supplier."

    Stan - solid write up. Your case is further bolstered by increased capability to go for larger deals and enhanced focus on using the balance sheet efficiently in response to institutional shareholder feedback.
    Aug 12 08:38 AM | Likes Like |Link to Comment
  • Is Barron's Right On Terex? [View article]
    Definitionally you are correct. TEX is both an operating leverage AND financial leverage play. You have to believe in the cycle to get involved.
    Aug 11 03:29 PM | Likes Like |Link to Comment
  • Is Barron's Right On Terex? [View article]
    Thank you Sir! While I will always be wrong 40% of the time the trick is to do so in a structured and thoughtful way.

    Sincerely,

    Brian
    Aug 11 09:15 AM | 1 Like Like |Link to Comment
  • Should GE Care About Healthcare Developments At Philips And Siemens? [View article]
    Hi SonChief:

    At the end of the day it will prove "incremental" at worst. I've found, over time, that imaging is about a 4% growth business that gets you nice returns (mid teen margin if you don't screw up - figure 10-15% of machines, 15-20% on service) and you don't get huge share swings. It is an oligopoly and unless there is BIG growth or some huge table stakes (operating system - AAPL versus Samsung) industrial competitors tend to be "rational." There will be no "holy war" coming out of this.

    Brian
    Aug 7 11:42 AM | Likes Like |Link to Comment
  • ANR: SOMETIMES, YOU'RE JUST PLAIN (WRONG) EARLY [View instapost]
    Good thing you did NOT buy!

    Bankruptcy - will likely give you a depressed view of asset values because it is "distressed."

    With respect to bonds - philosophically, if I am going to play deep contrarian I will go for the 400%+ upside. If I want 20% total return I prefer to just buy a good quality, beat up stock like ETN for example. But that is just me.
    Aug 4 12:17 PM | Likes Like |Link to Comment
  • Should GE Care About Healthcare Developments At Philips And Siemens? [View article]
    Hello Tereza:

    Samsung is a capable organization with respect to working in "large quantity" undertakings. Samsung will have the size and intellectual capability, but distribution/relations... take decades. It would not be their #1 priority to enter a market with 4% secular growth.

    Sincerely,

    Brian
    Aug 4 09:33 AM | Likes Like |Link to Comment
  • Bombardier: This CANNOT Be Good..... [View instapost]
    My pleasure
    Jul 23 10:37 PM | Likes Like |Link to Comment
  • ABB LTD: A 3.13% Dividend With Growth In The Future [View article]
    ALWAYS remember there is a mismatch in the cost base - Swiss Franc is about 18% of cost but only 3% of revenue. When SFR rises against the Euro profits get killed and vice versa.
    Jul 21 09:06 AM | Likes Like |Link to Comment
  • Frontline: Will John Fredriksen Come To The Rescue? [View article]
    John Fredriksen has a personal reputation at stake which he would take seriously to start with. Plus, as Eric capably points out, he gets 5-6X return on his common stock. Doing good is this case would also mean doing well. i recommend reading Lori Ann Larocco's DYNASTIES OF THE SEA which includes a worthwhile history of, and interview with, John Fredriksen and his career in the sector.
    Jun 20 02:11 PM | Likes Like |Link to Comment
  • Why Timken Post-Spin Is Not A Bargain [View instapost]
    Synopsis of Timken Investor Day
    Jun 20 11:42 AM | Likes Like |Link to Comment
  • Siemens CEO tries to calm furor over job cuts, could affect Alstom deal [View news story]
    Siemens is an eyesore. Kaeser does NOT "have to" buy Alstom. My guess is he wants to "lose" this deal even though it makes GE a much stronger global competitor.
    May 30 06:54 PM | Likes Like |Link to Comment
  • Siemens CEO tries to calm furor over job cuts, could affect Alstom deal [View news story]
    Scott:

    1. The deals are not apples to apples. The numbers will change depending upon the details, assets, etc.

    2. Unlike MANY past GE deals the original proposal would have been a home run for GE, hitting a 20% ROIC potentially by year five.

    3. Generally speaking, I have been in the camp of the more dividend recovery and repurchase and the fewer deals the better.

    Brian
    May 30 06:51 PM | 3 Likes Like |Link to Comment
  • Siemens CEO tries to calm furor over job cuts, could affect Alstom deal [View news story]
    Kaeser being forced to consider a LARGE, DISRUPTIVE deal even as he is desperately seeking to dump non core assets. Cannot be having fun. And reality is he has to cut a LOT more people than GE to make the numbers work.
    May 30 04:22 PM | 1 Like Like |Link to Comment
  • Natural Gas Crushed By Huge Injection But Bullish Fundamentals Remain In Place [View article]
    Sumit - thank you for sharing an excellent analysis. Brian
    May 23 10:30 AM | Likes Like |Link to Comment
  • GE may need radical cuts to boost its stock, analyst says [View news story]
    Scott is actually a very thoughtful and creative analyst. I just happen to disagree in this case.

    My question to you is - why would you buy GE to play BA rather than play the name directly? Thoughts?

    Sincerely,

    Brian
    Apr 4 06:46 PM | Likes Like |Link to Comment
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