The Rising Influence of Rising Affluence

[DewDiligence]

My call on 3M has not worked out so far, and the stock was down another 6% today on weak 2023 guidance (#msg-171018740).

However, I’m patient. I continue to think 3M has a good chance of ultimately prevailing in the earplug litigation (#msg-170753717, #msg-170190994), thereby limiting 3M’s liability to a small fraction of what plaintiffs are seeking. If 3M does prevail in the earplug case, its other woes should take care of themselves in due course.