It has become a lot harder to find hated names on the public exchanges. As the rising tide of the market has lifted many sectors, long-term value investors are sitting on growing cash positions, lusting for the long-gone pessimism of 2009.
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Have you looked at Bouygues ? I bought it today and even though I hold FTE too, I find Bouygues to be a better candidate for new money.
ReplyDeleteThey are a family run business with significant holding (~20% holding by Bouygues family). Furthermore, they hold *other* good businesses like Construction, media and 30% of the engineering group Alstom. There share price has suffered because of their Telecom business -- just like FTE.
Saj,
ReplyDeleteAny thoughts on the sustainability of FTE's (now ORAN) dividend?
Your insights would be much appreciated.
Cheers,
Big fan
Hi Kirkomi,
ReplyDeleteI have not.
Hi BF,
I would say it is sustainable. That said, I would be happier if they cut it, and used those funds to pay down debt and buy back shares, as I think that is a better use of their capital.