GE: That Was More Than Just A 'Reset'
*The company held an Investor Update Meeting and it was not well received by the market.
*GE cut its dividend by 50% and guided for lower-than-expected 2018 adjusted EPS and Industrial FCF.
*It is hard to fight the tape, but I am staying long the stock.
Taking a step back, the underperformance of GE's stock over the last year shows that it is hard to fight the tape. I have an overweight GE position in the R.I.P. portfolio so I have felt the pain over the last few days - and honestly over the last few years - but I plan to stay long the stock, even after the disappointing investor meeting.
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