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By Jason Stipp | 03-10-2011 06:00 PM

Luck Running Strong or Running Out?

Ahead of St. Patrick's Day, Morningstar markets editor Jeremy Glaser checks in on the fortunes of Ireland, Netflix, Realty Income, and others.

Jason Stipp: I am Jason Stipp for Morningstar and welcome to the Friday Five. With Saint Patrick's Day right around the corner, we're talking luck today on the Friday Five, who's still got it and where might it be running out.

Joining me with the details is Morningstar's markets editor, Jeremy Glaser.

Jeremy, thanks for being here.

Jeremy Glaser: Jason, I feel very lucky to be invited back.

Stipp: So, what do you have on the Friday Five this week?

Glaser: This week we're going to take a look at Ireland, at McDonald's, at Hitachi, Netflix, and finally Realty Income.

Stipp: I can't think of a better place to start a Saint Patrick's Day Friday Five than with Ireland, but their luck, questionable?

Glaser: Unfortunately, the luck of Irish has run out for the Irish. Certainly, Ireland has been under siege for a long time. Their banking crisis continues to deepen. There are continued fears about how they're going to get their fiscal house in order, given that they have this enormous outsized housing and banking sector, and one that doesn't look like it's going to come back anytime soon.

For the first time in generations, they are seeing mass emigration from Ireland again, and they are not really seeing that competitive business spirit that had really helped the Irish economy out for so long.

So it looks like their luck has run out for the time being, but I think long-term structurally they will be able to fix the economy, but there is going to be a lot of pain before that, and I think the rest of the European Union is going to have to be willing to help out, and be willing to probably provide even further bailout funds before Ireland is going to be completely back on track.

Stipp: Back here in the United States, some results came in from McDonald's that showed they might have a little bit of some luck problems here in the U.S. I know you have a special guest here today to help explain that.

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