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Strategies & Market Trends : Value Investing

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To: schzammm who wrote (19882)	10/16/2004 10:04:08 PM
From: Area51	of 78717

Nice writeup on the Big Pharma. If you wanted the negative argument on PFE I think it would center around the 2005 PE of 12 being much greater than the 2005 - 2008 growth rate of about 5% per year (or at least Goldman Sachs has 2.86 EPS in 2008). And if you believe that Kerry will be elected that growth rate is probably too high as the democratic party relies on lower drug prices to win popular support, and lax tort reform so that trial laywers can continue to line the coffers of the democratic party. If you believe Bush will be reelected I think you have a pretty good argument.

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