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Minyanville Underground Railroad: Rinse and Repeat

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Sneak Peek

Below is an excerpt from Todd's column, Rinse and Repeat, which will publish on Minyanville tomorrow morning. This is a MUR exclusive:


Earnings season is upon us and the world is watching with bated breath.

The leader of the procession was Alcoa (AA), which missed guidance and took a ten percent hit. Given the 35% rally into the report, investors can't help wonder if the "sell the news" reaction will serve as a microcosm of what's to come.

There's more to this story than meets the eye. CFO Charles McLane Jr. offered on the conference call that the company willingly sacrificed earnings to preserve cash. That effort cost 21,000 employees their job and slashed capital spending expenditures in half.
That shouldn't come as a shocker for readers of my column. Precisely one year ago, Alcoa executives famously said they would "identify and implement effective responses that strengthen market competitiveness and financial staying power during the economic downturn." See Financial Staying Power.

That's been the underlying theme this past year: to bet, or not to bet...

Click here for the full article.


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No positions in stocks mentioned.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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