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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (14164)	3/23/2002 10:36:01 PM
From: Joan Osland Graffius	Respond to of 78594

paul, I do not know how to evaluate the pharmaceuticals situation at MRK. Am kind of like Warren Buffett with this one. I did an evaluation using his techniques and it came up a buy. The management has been successful in the past and expect them to perform in the future. Their 10 year track record is great and I like the intrinsic value of the company. I also expect to hold for at least a two year period and will average down if the management still believes they have new drugs in the future. We can sell covered calls during this period and made 9% on our invested capital. I can live with that while I am waiting for new drugs to come to market. Joan