Word: amhoist
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Dates: during 1980-1989
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Looking for an offbeat investment prospect? Well, consider a St. Paul company called American Hoist & Derrick. A typically depressed heavy-equipment manufacturer, Amhoist lost $21.8 million last year and is expected to wind up in the red again this year. Two of its primary markets, the petroleum and timber industries, remain sluggish. Its stock has been sagging in the bull market and now sells for $15, vs. a high of $26, reached...
...interested? Openly contemptuous, in fact? Then you are hardly a contrarian. To a good contrarian, Amhoist's expected profits in 1984 will still be meager enough to make it an out-of-season bargain, like snow tires in July. The fact that few other investors are attracted to it is all to the good. Contrarians are a stubborn breed who relentlessly resist the natural human tendency to run with the pack, and Amhoist is just the kind of stock they thrive on. Or hope...
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