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GE 2009 Q2 Earnings Being Released at 6:30AM Today


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GE Reported $0.26 E.P.S. which beat the consensus estimate.  Its revenue ($39.08 Billion) was down 17% from last year compared to a consensus expected decline of 9%.  GE expects a profitable 2009 and is cutting costs.  GE capital is reported to have outstanding cash flow.  

 

 

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"It was little short of nonsense for the stock market to say in 1937 that

General Electric Company was worth $1,870,000,000 and almost precisely

a year later that it was worth only $784,000,000. Certainly nothing

had happened within twelve months’ time to destroy more than half the

value of this powerful enterprise, nor did investors even pretend to claim

that the falling off in earnings from 1937 to 1938 had any permanent significance

for the future of the company. General Electric sold at 647/8

because the public was in an optimistic frame of mind and at 271/4

because the same people were pessimistic. To speak of these prices as representing

“investment values” or the “appraisal of investors” is to do violence

either to the English language or to common sense, or both."

 

- Ben Graham, Security Analysis

 

Some things never change.

 

Vinod

 

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I managed to read the Q2 reports from the GE website, excepting the 10Q, this weekend.  Things are looking reasonably healthy with GECS, and GE as a whole.  They gave a nod to the concerns with commercial portfolio in the UK.  They have spent the last year reducing the assets at GECS.  In the meantime they are looking at huge participation in stimulus packages going forward.  The reserves for the mortgage losses seem to be sufficient at this time.  Cash flow is quite healthy and EPS is 0.26/share - depressed. 

 

I have bought 2011 leaps since March 20th or so, in dribs and drabs.  I am now going to sit out until the 2012 Leaps are out.  One of my bigger holdings now. 

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