I called to load up CAT this morning. Government starts to issue digging permits April 15th after the long Winter and go all the way till October. Load up CAT now. You will start seeing many CATs at work from now into October. Remember Winter is the worse time for CAT because no permit for digging.
They are not G-d. They make plenty of mistakes(this will most likely be one of his biggest). The secret is that your hits should outnumber your misses, that is all. You can't get every pick right. How he sees any huge value compared to so many other companies with much cheaer valuations and moats is beyond me. But its his money to lose. I'm on the other side(short).