Big correction that he calls a 4-year-cycle reset. October 13 was the start of a new 4-year cycle. Should have upside, by time, into late 2025 to early 2026. One of his favourite plays for this year. Higher lows, higher highs. If it continues to take out recent highs, sees no reason it won't test important resistance around $150, where it stalled out before.
Produces chemicals that are part of everyday life -- food products, fabric, pharmaceuticals. Pricing background has been weak (and that's what happens with cyclicals) -- starting to see a bottoming. Big opportunity if you can get the timing right. Yield is 0.23%.
Sold off aggressively, with higher interest rates causing fears of recession. Exposed to higher nat gas prices, didn't like its Chinese exposure. Still likes the business. He sold and went to LYB.
Believes company is offering a long term value with current share price.
Trading at ~6x earnings per share.
$1 Billion in cash flow & deleveraging actions major opportunity.
Expecting volatility in share price but dividend growth and higher M&A activity.
Warren Buffett also a major shareholder.
Big correction that he calls a 4-year-cycle reset. October 13 was the start of a new 4-year cycle. Should have upside, by time, into late 2025 to early 2026. One of his favourite plays for this year. Higher lows, higher highs. If it continues to take out recent highs, sees no reason it won't test important resistance around $150, where it stalled out before.