Anybody been investing in big industrial stuff? Conglomerates? Manufacturing?
If I hadn't bought when I did (a little early), I'd have made some good cash. I'm thinking about buying more if it dips again.
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FollowBefriend (3)30 threads583 comments Denver, CO
I have held GE for a few years now, adding to and selling (mostly adding to) as opportunities present themselves. No real logic here beyond the obvious (blue chip, diversified (geographically as well as products), dividend paying, company.) It probably doesn't hurt that Immelt has a direct line to the White house, though that may not be true for long. I don't have an urge to add more right now as it already makes up a big enough % of my retirement investments as a single stock. I probably have funds that hold it as well.
X hasn't been on my radar, but it looks interesting because of the recent dip (-20% in a month, it looks like). What's the motivator behind the drop?
FollowBefriend64 threads5,515 comments Corning, NY
You'd be better off in a low-cost index fund.
Well, X has seen a good bit more drop since the original post. 8%
I got this from a friend who is a financial adviser as to what was going on with it:
"Cheap Asian steel dumped on the markets below cost. Couple that with a weakening global demand and you get a nasty recipe. There has been some talk of congress trying to help with some steel import tariffs."
The dumping can only last so long, it would seem...but if it's backed by a government of a big country, it could last quite a long time. Keeping in mind the whole "catching a falling knife" thing, I do plan on keeping my eye on X.
Steel is a terrible business to be in. Huge capital costs and subject to economic cycles.
Plus China's construction bubble is deflating.
FollowBefriend (12)159 threads1,532 comments Emeryville, CA
Nice rally today. If you time it right, it could have legs I reckon.
I have been keeping an eye on X since reading this post...watching it decline session after session. I intended to buy some yesterday, but got busy with more important things. Oops!
It's pretty volatile, and I don't think we are out of the woods yet (Europe, housing, election year, etc), so I anticipate more opportunities...
I totally agree. I bought some a ways back. A bit early, as it turns out. Now, I'm looking to recuperate a little. :)