Fenner (OTCPK:FNERF) is a manufacturer of rolex replica
. Have you ever heard of the philosophy of selling pickaxes and shovels to miners? Same idea. From the Q4 report, "Based in the rolex replica
, Fenner is the world's leading manufacturer of conveyor belts. As such, the business is heavily exposed to mining, in particular in the rolex replica
and in Australia. In addition, the company is involved in a variety of generally high quality but niche businesses, with one third of revenue related to oil gas (O production and petrochemical activity. While their rolex replica
is strong and has yet to be impacted, Fenner's share price fell further this quarter, along with most O related companies, due to the sharp, unexpected fall in oil prices." The market cap is million (swiss replica watches
), and it has a 5.82% dividend yield. That yield is very tempting. Revenues are down from million ($1,230) in 2013 to ($1,094) in 2014. Like many value funds, FPA buys cyclical companies at what it hopes is the bottom of the cycle. One of the fund's big winners was Christian Dior (OTC:CHDRF). I wrote about Dior a few weeks ago on hublot replica
. Dior controls LVMH (OTCPK:LVMHF). My conclusion was that it's had a pretty good run, and I'd be wary of investing at this point.