Are there specific things keeping you away from either company?
Primarily top-down or general things, I think. I'm not very interested in owning cyclical/industrial businesses. Or trying to time those cycles, at this stage in my financial journey. I own some oil majors, where they have proven their ability to survive over many energy cycles, and DE, but that's about it.
BA certainly has some headline problems right now, but even without those, I just don't think it's in the zone of things I want to own.
3M has interested me in the past, when I've been looking to add a name, but it was always "a great company at a rich price," rather than a fair price, as the saying goes. Now it's cheaper, but for good reason. Is it still a great company? That last earnings report and call were awful, "Eh, we don't know what happened, but we'll fire a bunch of people while we try and figure it out." I am thinking one could safely wait for one or two more quarters and not miss the boat. If that was a boat one really wanted to ride. But as I slowly sell my low-yielders, I'll be looking at utes and their ilk rather than BA and MMM. |
