P.S., I just bought a few shares

Quick update on our last "Idea of the Month" pick

By Travis Johnson, Stock Gumshoe, March 13, 2014

I told you that I’d update you if my limit order for our most recent “Idea of the Month” stock triggered and, well, it just did.

So now I own a small position in National Oilwell Varco (NOV), with a buy just under $75.

And, um, that’s pretty much it.

Nothing has really happened at the company in the couple weeks since I covered them, other than an announcement that they’ll be reorganizing how they report their results (splitting into reasonable divisions, which is good for more investor clarity), and they just got downgraded by an analyst because that analyst sees offshore rig demand that’s weaker than they think the market appreciates. Both of those qualify as not being news in any meaningful way, they don’t report again until late April. I’m still A-OK with buying a dominant industry player with a global business, a small spinoff coming, and a cheap valuation and growing dividend.

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