Joy Global (NYSE:JOY)

Joy is one of the largest global manufacturers and servicers of high productivity mining equipment. It sells both new equipment (40-50% of sales), and parts to repair and upgrade existing equipment. Coal and resource stocks haven’t been doing well lately, and naturally, neither has Joy. It now trades a P/E ratio of 10.6 but still has a return on investment of 14% in a depressed market.

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JOY and RT

One thing I haven’t been doing lately is writing up on stocks. That’s mainly because I haven’t found many worthy of investing in. I’ve decided to write up more of the stocks that I reject for a couple of reasons. Firstly, I am often wrong in rejecting a stock and readers may see a bargain where I have failed. Secondly, I want to take more time to monitor how my rejected ideas do over time, to see if I can improve as an investor.

This article covers two stocks which appear at attractive prices, but for one reason or another I have decided not to invest in. They may appeal to others though.

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