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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (33174)1/2/2009 4:59:02 PM
From: Paul Senior  Read Replies (1) of 78614
 
ESRX: I can't warm to this one. I don't see the attraction, and I don't have an objective way to evaluate the thing other than as a value stock. (Which it does not seem to me to be)

Okay, it's a gaarp stock -- it still to me seems expensive based on how many other good stocks are available at p/e under 15. And from what I can understand, it's not like ESRX has great market share or proprietary products or even a dividend.

S&P likes it though. Predicting higher earnings for '09, ESRX one of their top picks (5 stars). So who knows.

For me, in the health care arena, I'd rather be adding to my COV position. (Which I am trying to do if price will fall a little.)

If I can be alert enough, and if ESRX moves up a couple of more points, I might consider a paired trade -- shorting ESRX and buying more of the healthcare/pbm companies that look better priced to me on their valuations.
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