“Might not the following also qualify as Autonomies: Intel, Emerson Electric, Coach Inc., Royal Phillips NV, Pfizer? Thanks for you insights.”

Eoin Treacy's view Thank you for these additional suggestions. I mentioned on Friday that the list of autonomies I posted were the result of some initial thoughts and open to debate, amendment and extension. Some of your suggestions represent promising candidates.

In the consumer electronics, technology sector: Intel is the global leader in microchip manufacturing. Asia Pacific is by far the largest contributor to gross revenue and the company has been steadily growing its dividend since 2003. The share currently yields 3.52% and prices appear to be in the process of emerging from a decade long valuation contraction.

Koninklijke Philips Electronics is a well-known global consumer electronics brand and its Rest of the World category is its largest revenue generator. The share yields 4.85% and recently retested the 2009 lows where it appears to have found medium-term support. Philips is a substantial player in the consumer electronics market but revenues are static and I wonder what it does that companies, such as Samsung, Electronics cannot do cheaper. Personally, while the share looks more likely that not to rise from current levels, I would be reluctant to add it to a list of more successful Autonomies until it shows relative outperformance and corporate governance improves.

In the global engineering/manufacturing sector: Emerson Electric's is a US dividend aristocrat and yields 2.78%. Asian revenues overtook Europe's to become its second largest in 2010 behind the USA.

In the luxury brands sector: The USA remains by far the largest contributor to Coach's revenues. However, it has international growth aspirations and its Other International segment is growing steadily. The company initiated a dividend in 2009 and has been increasing it.

In the pharmaceuticals sector: Pfizer is one the largest drug companies in the world and yields 3.89%. It appears to be growing across its business units. The share has recently shown impressive relative strength and a sustained break of the six-month progression of higher reaction lows would be required to question further scope for additional upside.

GlaxoSmithKline's self-described Rest of World segment continues to grow while its US and Worldwide operations have been shrinking. The share yields 4.71% and continues to post new recovery highs.