A midcap and will own for the next 10-20 years. They're good at what they do. Revenue is up 13%. They give you lots of cushion in a down market. Even in a recession, they will grow over time. They turn around their cash flow faster than their net income to allow them to acquire more and pay down debt quickly. 15-20x earnings. Dividend grower. He will add during correections, but has no plans to sell. 

A long-term hold or trading stock? They make fuses. Fuses, sensors and LED lighting is their future. He's long held this and will hold it. Analysts don't understand this stock. Very volatile. has 8% organic growth, over double the U.S. market. 17% profit increase in the past year. Auto sector was weak in Europe and China, but they generate a lot of  free cash flow. A recent acquisition has been paid off already. It's in a cyclical industry and it's a small mid-cap stock, so there's no volatility when the wider market goes down. The dividend has tripled in 8 years. There's lots of growth coming. Buy half now and buy more later. If you own it, hold it and enjoy the ride.

(A Top Pick Oct 04/17, Down 20%) Steel tariffs hurt them hard. Profit is up 13% instead of 15% so the stock got crushed. Increased the dividend 28% earlier this year. Genreates a ton of free cash flow. Weak housing starts in the U.S. and China hurt them. But last week's earnings saw a pop. He will add more shares later.

(A Top Pick Oct 04/17, Down 7%) Has owned this for 22 years. #1 insulin maker in the world. Just came out with a drug for weight loss. There'll be a 54% increase in diabetes in 12 years. They and Merck had the best revenue growth. Stock fell a little because a competitor got FDA approval for a similar insulin. They are selling more outside the U.S. and need to sell more to China and India. Then, the street will favour them again.

They own toll roads in Spain now. Also India, Brazil and Chile. They own the duty free shops in the Rome and Nice airports. They're getting blamed for the Genoa bridge collapse (they own Italian toll roads), which has hit the stock. He's waiting to see how the Italian government reacts.

India's currency has fallen. Oil pricess have rose (their big product), so inflation is running rampant now. FIU is like a hedge fund for Prem Watsa. So, he'd rather own Fairfax parent company, FFH, than this subsidiary. FIU is mostly infrastructure. He doesn't like how they manage this Indian subsidiary.