RE:RE:RE:RE:My Thoughts - take them for what they are.
Hey Magic,
My perspective on E is basically summarized below. I think with my post I was critical of management but didn't at least offer my perspective of the stock at these levels, which is a cop-out.
- I think E is an aggregation of small to mid-sized business with very little integation.
- I believe that some of these businesses are excellent businesses, while others are not
- I think Management are better promoters than Managers
- I think some of these businesses have low barriers to entry and may come under pressure in a down market
- I think that E has a good balance sheet and manageable leverage
- I think that E's share price is fundamentally attractive at these levels
- I won't be buying nonetheless because I'm not comfortable with how management allocates and deploys capital
- I do not think that E will retest $1 per share anytime soon but you could see a 65-75 cent range if the market rebounds
- I think analysts do very little critical thinking and "BS Testing" against management projections and guidance because it is counter-productive to investment banking revenues
- I hope E management proves me wrong (though I doubt it)