Caterpillar has performed badly in the past, but what does the future hold? In this video, Brendan Byrnes lays out his case for investing in the company. Most compelling, he says, is that Caterpillar has entered the mining equipment business, which should mesh well with the growing demand for coal in China. The company also generates more than 60% of its revenues outside the U.S., so as emerging markets grow, Caterpillar's revenues should get a boost. Best of all, the company is trading at less than 10 times earnings, putting it at a fair entry price.
Check out the video for more details.