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Strategies & Market Trends : Value Investing

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To: NikhilJog who wrote (45608)	11/21/2011 1:25:04 AM
From: Spekulatius	Read Replies (1) of 78673

NikhilJog - bridgestone is not really heavily invested in China - in fact they don't invest heavily at all after an investment binge from 2004-2007.(Bridgestones depreciation is actually higher than their investment in tangible assets right now, so they generate FCF while ML.PA FCF is negative this year). Bridegstone biggest market are America's, Japan, Europe and the rest (~18% per 2011 annual report). Michelin is building brand new plants in China, Brazil and India, going after emerging market growth, which is the right (imo) albeit risky strategy. Some folks are bullish about car tire replacements because many cars purchased in China still have to get their first replacement tires - however Bridgestone is the wrong vehicle to bet on this trend, imo.

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