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hardnox
Advisor

What's wrong with our system?

http://www.zerohedge.com/news/2014-04-24/why-caterpillar-just-blew-away-earnings-expectations

 

CAT management acting in a perfectly rational manner in this landscape, economically, and in terms of incentive (they're there to raise share prices and are rewarded gloriously if they do).

 

But great earnings, totally a function of cutting back severely on fixed investment and putting cash to work to drive the stock price higher.

 

Their seed corn that they're eating may or may not be treated with Poncho 200 but in the aggregate it certainly is.

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