Cyclical industries have this way of making investors look stupid, as the "it's different this time" crowd goes hand-to-hand with the "doom is just around the corner" contingent. Luckily for CNH Global (CNH) investors, the company is so well-diversified around the globe that a slowdown in one area can be offset by stronger conditions in another.
Like Deere (DE), CNH management has been a little conservative/cautious of late, and sell-side analysts seem to be getting a little more nervous about the health of the North American farm equipment market and the global construction equipment market. That said, CNH's overseas position is intriguing, particularly if management can start to execute better.
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Caterpillars, Deer(E)s, And CNH - Oh My
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