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I was at work here at the office last Monday night when I heard about the Boeing 737 crash at New York's LaGuardia Airport. A nose wheel on the jetliner had apparently given way after a hard touch-down just after 5:30 p.m. (EDT), leading to a crash that injured about eight of the 150 folks on board
"Uh-oh," I thought to myself. "Here's comes another feeding frenzy."
The media has had feeding frenzy at Boeing's expense ever since the tragedy in San Francisco, then the Dreamliner fire and the 737 crash. All it can talk about is the "continuing woes at Boeing." But don't be fooled, appearances can be deceiving.
I've been bullish on this aerospace giant for a while and even when in difficult times, I doubled down. Its recent troubles are a thin veil over some great long-term fundamentals.