And if you believe the economy is in store for a recovery in the second half of 2001, it's time to pay attention. Throughout the first quarter, there has been news aplenty about how the feeble economy has cut into the industry's revenues. And as long as they were on the record, they were sure to point out that Wall Street's view of their profits might indeed be too optimistic. Things don't appear to be getting better anytime soon. In some cases, people and businesses are opting away from airfreight to save money.
Trucking is no better off.
And in general, truckers face a number of road hazards, including higher fuel prices. Not surprisingly, a good many investors are already betting on a rebound by some of the group's biggest names. But ING Baring's Rockel thinks those prices are still too high, especially for stocks with potential downside. At current levels, however, these stocks just don't have any room for error. Should you be convinced that the economy is ready to roar back, you might opt for Federal Express, the cheaper of the two big-name franchises.