Took a starter position in the King of the Boomer Stocks (MMM). They have some issues (mainly on the expense side as their SGA costs are out of whack) but these are fixable. They have been paying down debt (only about 2x LTD to EBITDA) and still have a solid positive cash flow. Revenue is pretty flat but its a value company. Its currently at a 6.3% dividend yield so it only needs 4% stock price appreciation a year to beat the S&P return.
I could have locked in such amazing gains but I really wanted to hold through next earnings. Oh well. Maybe a good entry point?
I'm all about this kind of play for the time being.Dont expect anything crazy out of it. Its a park and collect dividends sort of play. They need to cut their SG&A expenses and I am willing to wait and see if they do it.
And in Colorado that house would probably be 400 or so.My house is a cookie cutter of the house that just sold for 300k, only difference between that house and mine is my garage has 75% of it converted to living space with AC and heating turned into a spare bedroom/man cave. Nearly 100k increase in price in a single year, that house is 5 houses down from me.