With what looks to me to be a relief rally (the Dow closing up about 129), and all sectors (that I am watching) up, it's not such a great day to be buying. I made a few buys, but for very, very little dollar commitments.
I like Hyundai Motor for a number of reasons. I'm outlooking that in a few years it will be among the USA Big Three or Big Four auto sellers (Toyota, GM, Ford, Hyundai). The stock trades on the Korean exchange where the transaction costs are prohibitive for me and trading too cumbersome. Instead, as I've said earlier, I'm playing Hyundai by buying iShares Korean Index, EWY. I'll start a new position in VC by selling just a few EWY shares and beginning a most small buy of this auto supplier (Visteon, VC). VC gets 28% of its sales from Hyundai/Kia and 28% from Ford. (VC was spun out from Ford, went bk, and now is back with a leaner structure and less debt burden.) My assumption is that as Hyundai continues to capture market share, and as Ford maybe improves its own position too, then VC should do okay as well.
I'll be building my position in VC if/as stock falls.
finance.yahoo.com
Stock was recommended in this week's Barron's Midyear Roundtable by Archie MacAllaster. I note that several stocks recommended in that article have previously been mentioned on this thread (and at lower prices than currently recommended in the Roundtable). |
