+ Watch BGC
on My Watchlist
A global developer, designer, manufacturer, marketer and distributor of copper, aluminum and fiber optic wire and cable products. The Company sells copper, aluminum and fiber optic wire and cable products worldwide.
looking to stocks that a recession will hit hard. I REALLY LIKE BGC LONG TERM. over the summer as the market sinks i think bgc could see new lows. Reasons:1) higher interest rates.2) Results in less investment3) Higher raw materials costs4) margins shrinkSolid balance sheet but do not think they are going to be able to fight the headwinds of the coming recession.
BGC is one of the better stocks for the infrastruture build that is coming, after a recession. It is now about $35/share and I am getting interested on the long side. For now I think we need to wait and let the recession get deeper. When you think things are at the worst it is time to buy. I would look for something in the mid 20s as things in my view are still not as bad as is to come.
I have taken short postions in companies that I think are good companies but in industries that cannot fight the trend such as BGC. I did not think it would get to $18/share. The issue now is what is cheap? I think we are still just starting the tough times with at least 4 quarters of zero to negative growth in the economy and jobs being lost. With that in mind I am still holding a short position on BGC but will consider changing he position when I think we are at our worst in the coming recession.
I find it funny that this is being sent as the "bear pitch" because since posting this I have closed the short position and opened a long position.Still not a raging bull but I think at less prices it is difficult to short such a good company and countries are coming out with stimulant packages that should help.
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