Check out slide 5 in the 3Q deck. Here again, GE;'s earnings surprise was not achieved in a high-quality way. The GAAP loss is the thing to focus on in that slide. GE keeps throwing in questionable items to offset that (flip it slightly positive). With that said, I still think the stock is priced fairly.
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agree, however, with all the negatives still in the industrials and Capital I think more reasonable price is closer to $3 / share.