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It’s always nice to see one’s holdings touted. Have a read on a “Forbes” opinion:

When Tata [TTM] bought J/LR (Jaguar/Land Rover) from Ford [F], just before the late 2008 recession (depression?) began, many believed that TTM had bitten off more than it—or any auto manufacturer—could chew. With a high price tag ($2.3 billion), worsened by the recession, the acquisition was perceived as a bottomless, money pit. No previous owner had made J/LR profitable. At the time TTM had only about $1 million in cash. Many felt TTM management had done a big “Oops!”. (See link to one opinion, below):

To the contrary, J/LR has proven itself to be the “silver lining” for TTM. When other companies couldn’t make J/LR profitable, TTM’s management turned it into a virtual gold mine, currently producing about 50% of TTM’s total revenues. I still believe TTM would have preferred to buy the LR without the J, but I, too, could be very mistaken....

Warm regards,

Position: Long & holding
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