Foster Wheeler's CEO, Ray Milchovich, remains one of my favorites as a straight shooter - when last he appeared on Mad Money we were dismayed he was going to retire [Sep 15: Foster Wheeler CEO on Mad Money] but due to the macro economic climate he has decided to stick around for another 3 years. I continue to look at the valuations in the infrastructure stocks in utter revulsion. Nothing seems to help these guys, despite buybacks [Sep 12: Foster Wheeler Follows in Path of Potash and Joy Global] despite solid results [Aug 6: Foster Wheeler - Solid Numbers] We sold at a disgustingly low $33 a while back, and this name AFTER a huge rally is now back in the low $20s... it traded down below $15.
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4 comments:
Agree.... I always liked MDR and ABB, and look at them now. Of course, it could be worse, they could be dry-bulk shippers. Check DRYS, which was a 4120 sock and is now in a channel between $3 and $5, for a 1/30th of it's original value. Ouch!
jegan
Yes but look at shipping rates and debt level on DRYS
I wouldnt compare the two groups - specifically DRYS which is basically the Dry Bulk Index in equity form.
FLR and JEC are the ones that really get me; they have not skipped one beat and been destroyed.
TM.. Agree completely. They are more 'apples to oranges', but consider that if FLR and etc. ever get back in the saddle, shipping should not only 'giddy-up first', but it should be easier to spot and has a lot more room to run. I have a Google Gadget for the Baltic Dry and watch it daily.
jegan
TM.. Agree completely. They are more 'apples to oranges', but consider that if FLR and etc. ever get back in the saddle, shipping should not only 'giddy-up first', but it should be easier to spot and has a lot more room to run. I have a Google Gadget for the Baltic Dry and watch it daily.
jegan
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