Louis Navellier just came out and made AZZ his #1 stock on his emerging growth newsletter, which has about 50 to 60 stock on it. He said to buy it aggresively under 57 per share and that there is a good chance that they get bought out by a steel company
This is a great news that Renaissance purchased 102 shares of AZZ. Renaissance is the most consistently successful hedge fund since 1982, yielding returns 10% higher than legendary Soros.
<<Renaissance Technologies is a hedge fund management company. Renaissance was started by Jim Simons in 1982. Its $5 billion Medallion Fund has averaged 35% annual returns, after fees, since 1989, and is considered in the industry to be the most consistently successful hedge fund, yielding returns ten percentage points higher than legendary investors Bruce Kovner, George Soros, or Paul Tudor Jones>>
Navellier is a horrible stock picker. For example, last year in spring, he picked ERS at about $40, after it dropped $20 from the high, and just two weeks before the earnings report that ultimately sent it reeling down to $10 / share.
He claimed "ERS earnings should continue growing 60% / year" but he totally neglected to read the annual report ERS posted in January, which indicated the backlog had flattened!
He kept ERS on his "list" for many months until he finally dumped it for a whopping 60% loss. --
Navellier is a momentum guy. He basically looks for things that have had huge runs, and then assumes they will continue running up. His analysis is shallow.