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This Boring Stock Still Makes Sense in 2024

An old friend is back in the news at the moment, and it has prompted me to look again at a stock that I recommended a while ago. What I found was that, despite it being 35% or so higher than it was then, it still makes sense as a long-term investment, and for the same reasons.

Back in October of 2022, I wrote a piece in these pages saying that if you wanted exposure to fuel cells, but without the kind of wild ride that came with investing in things like FCEL or PLUG, you should consider Linde PLC (LIN), an originally German industrial gas company that is now incorporated in Ireland and headquartered in the UK. The logic was that as they are the world’s largest manufacturer and supplier of the infrastructure and fuel needed by fuel cell operations, they would benefit from growth in that oft-hyped industry no matter which fuel cell company won the latest contract or generated the most buzz. And should fuel cell technology not really take off, LIN still had a solid core business to enable growth. This is what has happened since…

As you can see, nothing spectacular, but nor has owning LIN added to the stress in my life. It has been a steady grind up with occasional, relatively small pullbacks that all proved to be just opportunities to buy more at a discount.

For some people though, I am sure that LIN was just too boring to look like a good investment.  There is a tendency these days among investors towards unrealistic expectations. Encouraged…





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