roundball100

Moving over a bit to biotech - any thoughts on GILD? (Though you won't get your dividend.)

agree probably not much growth. My valuation was based on 7% growth x 5 years only (est growth rate of health spending) + I feel that pharmaceuticals have been able raise their prices to keep up with inflation, so I put a terminal growth rate of 2% To me appears undervalued. Get ~6% dividend while you wait. Arguably the whole pharma space is undervalued, so the challenge is where the best relative value is within the space. Some of what I've read suggests LLY may have decreased earnings. 6% while you wait is great if your capital is safe, but no one is offering that guarantee. I don't have any more dry powder for pharma, but if you have an eye for decent dividend and better earnings growth prospects than LLY, you might take another look at PFE or MRK.

Re: LLY - isn't earnings growth (or lack thereof) a concern?

Thanks for the list. I few others I found worthwhile: The Richest Man in Babylon (fun and light, but timeless) A Random Walk Down Wall Street Four Pillars of Investing (early chapters moreso than the later)

twacowfca - what are the other 9 books on your list?

This issue includes an interview with Glenn Greenberg (Brave Warrior Capital) that I found interesting. http://grahamanddoddsville.net/wordpress/Files/GrahamAndDoddsvilleNewsletter/Graham%20and%20Doddsville%20-%20Issue%209%20-%20Spring%202010.pdf

... better to remove it, than to rename the forum "Corner of Berkshire and Fairfax and BH". Some others might be ahead of BH.

Bought some PDS (PD.UN-TO). Unfortunately, a bit early. Also bought: POW-TO, ABT, GOOG (likely too early, but I will hold it). Tempted by: - GILD, ESV (is it really at $40?), L (price vs. NAV) Waiting for better entry point: - Cdn energy: Suncor, CNQ, Encana (before nat. gas back in favor) - for the jockey: BAM (real estate, infrastructure, hydro) or LUK

I look forward to this being reposted as often as the site is taken down (by coincidence).

Apple seems to be the riskier choice, though certainly the more exciting. Many who have competed against Microsoft come to learn that as a rule, they keep coming, and usually get things right by about the third generation of whatever (and they have the cash to keep investing in order to iteratively improve).

I'm not sure a broker has enough information - for example, if your cost basis includes shares bought through other sources.

I am waiting for more visibility on the business impact. Compare to Loblaw (L-TSE) as it was falling a few years ago. It fell a long way, only now climbing back, and it's not clear it will reach old valuations soon. SC-TSE may be in a similar situation. It doesn't seem expensive, but margin of safety is not clear.