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Terex Corporation Message Board

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  • alphahunter Feb 4, 2009 2:25 PM Flag

    Presentation in FLA

    Thanks for the snipset of conf call

    I agree with you, halve next year's earnings and you still get a stock trading at 4x EPS and large net cash position.

    In the other hand, you've got Manitowoc who trades at similar earnings, yet sits on a large net dets and is likely to breach their covenants. Beside, it is unlikely that they manage to sell their Ice-Cream biz by the end of this Q.

    I can't stomach huge swings in SP so I am long Terex and short Manitowoc. I have adjusted my positions for their respective Beta, which means Short 4 Manitowoc shares for any 1 Long Terex.

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    • I am looking for 2 factors right now: 1) enough cash/dept to ride out 2009 and 2010, and 2) below book value.

      TEX could literaly just about shit its dorrs, layoff everyone, and open back up in 2011. Instead, they will layoff folks, reduce production, and ride it out.

      Of all the stocks I track, TEX has the best balance sheet and is most under book value.

      Others to look at with great cash/dept I found are EMC, JNJ, ABB, KBR.

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