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Strategies & Market Trends : Value Investing
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To: Jurgis Bekepuris who wrote (54801)1/18/2015 12:28:40 PM
From: Spekulatius  Read Replies (1) of 78890
 
Jurgis, I would like to know why you don't consider FLR? This is a company that has been operating well (I recall that I first noticed it in the law 80's or so) in an industry that is known for big blow ups. I recall and article from a long time ago, that mentioned them as one of the few companies that have deep know how in energy, refinery and chemical plant design, together with Bechtel (I think they are private and another German company (Uhde?) that I think has since blown up and merged in a different entity. They are cash rich and don't seem to have issues in accounting that some other ones may have (CBI comes to my mind). While I think they will suffer from reduced business volume, that is one company that knows how to operate through cycles and should have the cash to acquire a competitor, if the opportunity represents itself. Because of the above, I would give it a narrow moat rating. It's not really cheap at this point, but I think I would pick FLR over CBI.

Barron's had a write up on the, recently.
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