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Corning makes specialty glass and ceramics that are used in everything from flat-screen TVs to optical fiber to biosensors for drug research.
I added this to CAPS in late 2010 because their margins looked ridiculously high, I was reasonably familiar with the business, and I had heard a lot of good things about them. The books looked okay, but I didn't particularly understand the macro trend, and it turned out my timing was way off. I didn't end up actually buying some of this stock until late 2011 for about $13, it went back and forth for a while, and I doubled down in late 2012 for about $11, only because a) I wasn't sure enough about anything else to reallocate that cash elsewhere within the IT sector, and b) I'm pretty sure it's beyond the bottom. I'm pretty disappointed with its performance so far, but I think it will bounce back soon at least.
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