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re: Motorola. I'm with Mike on this one. I took a quick look at it and decided I'm not interested unless it gets much more beaten up. Then I'll take a deeper look. I don't see any clear competitive advantage like Intel has. Its ROE is 8% one year, 20% the next. That's not what great franchises look like. Not the kind of consistent ROE as an Intel or a Nike. I think Motorola is a good business, not a great business, so my buy criteria is a little different. Maybe the stock is cheap, maybe its not...but there are other much smarter people who know the business much better than I do. And as Buffett would say, I will be the first to admit that it is not a business I understand. Unless it is a truly great business (NKE, INTC, RAL) I understand, or an obvious steal (SJP, HYDEA, MOT at $30!), I'm not particularly interested. |
