Monday, March 2, 2009

Next time, we won't be so easily duped

Martin Marietta and Vulcan Materials Company produce construction aggregates in the United States. When President Obama sold us on the $800B stimulus bill in December, it was mostly about bridges and roads, precisely the kinds of projects that would benefit the two companies. Consequently, their stock prices soared.

But by February, when it became clear that the stimulus contained only $30B for infrastructure, the stock prices told us what it was likely to accomplish.

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