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No. of Recommendations: 3
Probably ill-timed as well... but I wanted more exposure to materials. I had nothing, then bought BBL in Dec. Passed on FCX - not well-run IMHO. Now the choice was DOW, DD and LYB; DOW won by a nose.
EMR is a little cheap compared to its history, still has a high P/E. Yes, you heard it right :-) 18 for an industrial stock is high for me, even for EMR. I was waiting for Sep 2011 level valuations but sadly the market is staying pricier than I can afford to sit out. So I am buying slightly overvalued stocks and bracing for a 20% haircut - but in the meanwhile, if they go up by 25%, I come out even.
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