LE

Complete List of Brazilian ADRs

AFAIK Sadia (SDA) is no longer traded.

Manitowoc Offers Investors Growth at a Discount

I answered my own question of Mar 7 and bought (a lot) around 2.75, and then sold around Aug 24 for 7.10 (can't complain). I was happy to see it then go down to low 6's, but then was dismayed when it shot up to 9 last week. I keep track of my "lost gains from too-early sales" and its one of my worst decisions after APWR and ASH. So, why did I sell?
1. I was troubled somewhat that the company's balance sheet has 600M negative equity after removing goodwill (but leaving intangibles), while market cap got to 1B. I like to buy stocks that trade at a discount to tangible book.
2. Some (not a lot) of concern about debt levels.
3. A feeling that they sold a whole LOT of cranes in 2005-2008, and that many of those cranes are idle, so that when the economy picks up, it will be the idle cranes put back to work, and not a lot of sales of new. On the food-service side, a feeling that a lot of restaurants will have gone out of business and produce a steady supply of cheap used food-service equipment.

But what I am focusing on now is what kind of earnings can this company expect in 2011? Investors will probably start to formulate those expectations over the next 2Q, so by mid-2010 MTW's price will likely build in expectations for 2011. If $2+ EPS is be reasonably expected for 2011, then this is probably a $20 stock by mid-2010.

Comments or opinions?

Disclosure: no MTW position at present


On Mar 07 06:47 AM LE wrote:

> so is MTW a good buy, now that it's at 2.50?

There Are No Good Choices for the Fed

What do you think is the primary impetus (or impetuses) for the 2nd dip of the double dip that you think we face?

Manitowoc Offers Investors Growth at a Discount

so is MTW a good buy, now that it's at 2.50?

Is Norilsk Really Selling Its SWC Stake?

To the author: as much as I find your posts interesting to read (and only time will tell whether they were prescient), the sheer volume of your postings makes one wonder what your real motivation is.