Mr. Borland: I've been with Next Generation since 2005, covering industrials. Before that, I was on the buy side and I covered industrials, among other groups, for about four years. So I have pretty good working knowledge about the companies I cover. It is a broad sector, and there are a lot of different things to keep an eye on.
TWST: How did you pick industrial equipment sector?
Mr. Borland: It's a diverse sector. Basically, industrial equipment touches all
sectors of the economy. There is consumer exposure with stocks like AO Smith
(AOS) and Briggs & Stratton (BGG), which are making products that basically are
tied to housing. But then, there is also federal and state government exposure
in stocks like Federal Signal (FSS), which sells street sweepers and sewer-
cleaning trucks and products like that to municipalities. It's not a one-size-
fits-all sector. It's not healthcare, where you are worried about the latest FDA
ruling; there are a lot of different facets to this group.
Tickers included in this excerpt: AOS, BGG, FSS, GGG, IEX, LNN, VMI
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