Jamie Dlugosch
Jamie Dlugosch is the founder and editor of the top-rated The Rational Investor. He has over 20 years of experience in financial markets including investment banking, equity analysis and research and money management.
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Top 10 Stocks for 2009April 9, 2009 By Jamie Dlugosch, Editor, InvestorPlace |
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Stock #9: Fluor Corporation (FLR)
My third bet on the infrastructure play is the last disappointment on the list. Fluor Corporation (FLR) is down 23% in the first quarter of 2009.
If you have yet to buy any of the stocks on this list, I would take a hard look at these infrastructure plays. Indeed, the Stimulus package disappointed, but the reaction to the news has more to do with aggressive shorting in order to profit on that news than any other factor.
Valuations in the group, including FLR, are cheap in my opinion. If there is any positive news on infrastructure, those that sold aggressively will be forced to cover their shorts. In other words, the potential gains here are higher than the rest of the market.
If you believe that the economy will recover, these stocks are the place to buy. I would expect FLR to recover these losses before the end of the year.
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