Jim:

I've scratched my head for probably five years, waiting for someone with more penetration than I to discuss Newell. Their product line is near-unassailable with brand recognition, ongoing need for repeat purchases, largely industrial/commercial clientele, and a near-limitless supply of raw materials (at least until climate change forces our hand to leave the bloody hydrocarbons in the ground for crissake).

I haven't teased out anything intrinsically wrong with their financials, and aside from some nonspecific background muttering about past and present dysfunctional management I've been at a loss to explain what might charitably be described as underperformance for at least the last, uh 25 quarters or so.

Beside the Warren/Charlie dictum about having a business that "any idiot can run b/c sooner or later some idiot will" - any thoughts as to the 'why'?

--sutton

Berkshire Hathaway FAQ

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