Thursday, December 02, 2004

A Good Year for Goodyear

Goodyear posted third quarter profits of $305 Million, double last years results. This stock has been good to my family. We held it for several profitable years after the recessions of 1982 and 1991. We bought it in 2002 this time and have a double so far. My big mistake in the past was to sell too early. The company goes from famine to feast in the years after a major recession. Some investors will stay away because of the heavy debt load but as the the recovery continues the debt will be paid off. A good stock for a balanced portfolio.