HOLD
Quietly restructuring and the latest earnings release showed an increase in earnings. Also building out their industrial and infrastructure business to take advantage of the emerging market. Expect they will earn $1.25-$1.30 next year. Have plans to increase dividends over time.
STRONG BUY
Hurt by the tragedy in the Gulf. Financial liability is limited. Trading at about half before disaster but earnings will probably be hit by only 16%. Trading at 5 or 6 times this year's earnings. Exposure in the Gulf is relatively limited.
DON'T BUY
Wouldn't play global expansion through a company like this. Speculative and you take on far too much company specific risks. Would prefer a more direct commodity play. (See Top Picks.)
STRONG BUY
Liked this company for a long time and feels it is currently undervalued. Thought the recent earnings report was very good but market sold off on CEO’s comments. Improved revenues by 27% and earnings by 36%.
DON'T BUY
Have done a great job. Avoided bankruptcy through good management. Unfortunately competitors under bankruptcy protection come out stronger. Balance sheet is pretty ugly with about $140 billion of total debt, about 107% of capital.
COMMENT
Most senior of the semiconductors but this business tends to be more cyclical than other parts of the technology area. Would prefer something with longer-term or stability.
TOP PICK
Stable, traditional growth vehicle. Bought back 2 of the largest bottlers to create some streamlining in the business. Made a $2.5 billion commitment to invest in China. Snack business is growing at a faster rate than beverages. 2.9% yield.
TOP PICK
Mining equipment such as draglines and heavy equipment. Acquired mining equipment assets of Terax (?) last year. Emerging markets are giving them all the business they can take.
PAST TOP PICK
(A Top Pick July 8/09. Up 53.5%.)
PAST TOP PICK
(A Top Pick July 8/09. Down 17.33%.) Touch screens technology and there was a competitive product that was driving prices down. Sold his holdings.
PAST TOP PICK
(A Top Pick July 8/09. Down 4.17%.)
BUY
Fallen on the back of the new FinReg financial regulation in the US that affects debit cards and their fees. Would prefer MasterCard (MA-N) that has less exposure to debit cards in the US but this would be a good choice since the price has come down.
TOP PICK
Likes the growth in emerging markets. This is in a very early cycle. Still replenishing dealers inventory. Management would like to grow share earnings at 15%-20% per year through this cycle.
TOP PICK

(A Top Pick Aug 4/09. Up 20%.) 20+ yr treasury bonds. High trend line right now but probably should come off a bit into the low $100’s.

TOP PICK
Expecting the government to a lower the ROE to rise from 9% to 10.5%. Great dividend.