The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
NEW YORK ( TheStreet) -- It always amuses me to watch Wall Street analysts back-peddle from bearish comments made about companies that never really deserved to be doubted in the first place. Warren Buffett once said that when a management team with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact. This has always been an axiom to which I've subscribed and one that has proven to be true time and time again.
Except recently (to my amazement) it has proven to not be so and it was indeed the reputation of the management team that trumped the perceived poor status of the business' economics. In disappointing fashion, Wall Street still refuses to give credit where credit is due.
Making the best out of a bad situation
Looking aheadAlcoa said that it expects demand to continue to grow as the year progresses -- particularly in the aerospace and automotive sectors. The company also anticipates improvements in packaging, commercial transportation as well as gas turbine markets while forecasting global aluminum demand to grow by at least 7% in 2012 -- this is on top of the 10% increase seen in 2011. Essentially as the market continues to focus on much of the headwinds such as the relatively poor performance of the alumina business, management's focal point remains on what it can do to produce growth and generate value for shareholders.
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