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

To: gcrispin who wrote (18619)	2/3/2004 11:02:46 PM
From: Spekulatius	Read Replies (2) \| Respond to of 78984

gcrispin: Thanks for your comments. At current prices it's almost a coin toss in between MCK and ABC. I prefer ABC because their earnings report was "cleaner". GS really ripped MCK's earnings report apart and disputed the fact that some of the charges were one time items and I tend to agree with them. Overall MCK is grabbing market share, but there is not much left on the bottom line from the incremental business. ABC is the low cost leader (2.4% operating cost versus 2.8% for MCK). Overall I believe that is a solid nicely growing business that can support 20x P/E ratios once it's regarded more favorably by the investment community. I plan on adding to ABC and buying back into MCK in the NT future.