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

To: Paul Senior who wrote (19848)	10/13/2004 1:49:14 PM
From: Jurgis Bekepuris	Respond to of 78715

I would think that the companies with problems behind them (SGP, WYE, and BMY) are much more likely to leave the trading range on the upside than a company (MRK) that still has most of the problem in front of them. The reality is not as black and white though. SGP and BMY may still have issues going forward: mostly pipeline issues, not legal ones. (I don't follow WYE, though maybe I should). Buffett said at some point that he missed huge profits in pharmas since he did not understand them (or something similar). Now maybe is the time to see what Buffett may have alluded to: pharmas depend on government regulation (think price controls), pharmas are high-tech companies (think that new drug invention is not guaranteed), pharmas have significant potential liabilities (Vioxx). These three factors should contribute to being quite conservative while investing in pharmas. (Or not invest at all). Jurgis - disclosure: holding BMY, following quite few pharmas

To: Paul Senior who wrote (19848)	10/13/2004 7:07:39 PM
From: Investor2	Read Replies (1) \| Respond to of 78715

Thanks for your thoughts, Paul. Re: "For you who is a bottom feeder and with the patience to hold for possibly a decade or more - you might want to stab a little MRK now." OK, I'll stab a little. (Actually, I just stabbed a little) :) Re: "A list stocks that offer better prospects of recovery and sooner too. I offer CL as an example." I agree. CL is one of my long-time holdings. It's a great company that I've owned (and dollar-cost-averaged into) for years. Thanks again, I2