Outing the Perpetual Losers -- Part II

Without further ado, here is the rest of my list of dependably wretched performers with seemingly oblivious management teams. Please see part one of this piece for my thoughts on the first five disappointers I named -- Abercrombie & Fitch (ANF), ADT (ADT), Avon (AVP), BlackBerry (BBRY) and Broadcom (BRCM).

6. Caterpillar (CAT) -- Does anyone on the board of directors care the company spent $700 million for what looks to be a phantom company? Does anyone on the board care that Caterpillar paid $700 million for ERA Mining and then wrote off $580 million of it almost immediately? Are they happy with CEO Doug Oberhelman because there's still $120 million in value there? Maybe they will give him the Congressional Medal of Chinese Investing? What's amazing is that Caterpillar is a fabulous company, but its underperformance is so palpable that you would think something has to be done here. Yet nothing will be done, because Caterpillar is only tough when it comes to labor. When you ask anyone in business about who they can't believe still has a job, it's Oberhelman. Someone has to pay the price -- might as well be the shareholders....657 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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