If you have been watching Boeing

Link here

An excerpt:

Investors pay a premium for an industrial company's shares when they believe it is halfway through a business up-cycle and recent earnings growth will extend at least three years into the future. They pay absolute top dollar when they think a company whose growth has been cyclical in the past has found a way to smooth out its ups and downs and bring in steadier cash flows through diversification efforts.



This is a pretty good read. I do not know much about Boeing, but I do understand the importance of supply chain management. Hence this Boeing example strikes a cord. The author is detailed and really read it to know the common pitfalls and ideals of investors =)