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

To: E_K_S who wrote (29455)	12/28/2007 2:35:06 PM
From: Jurgis Bekepuris	Read Replies (1) \| Respond to of 78954

Since two of your five top holdings are pharmas, can you tell why are you holding them and what do you expect? It's a serious question, since I look at my AZN and GSK holdings and at other pharmas and I am really not sure if there is any positive future in them. All of them are facing patent expirations, all of them are not doing well with the pipeline, all of them are getting FDA non-approvals or more stringent regulations or lawsuits or failures or all of the above. They still have good earnings as evidenced in low P/Es, but is that enough? Anyway, I'd want to hear your thoughts. :)

To: E_K_S who wrote (29455)	12/28/2007 2:47:33 PM
From: Spekulatius	Respond to of 78954

GGC, sort of like a call option on a recovery in basic chemicals. However when accounting for the large debt, the EV/EBITDA is actually higher than for competitor DOW. With PVC production and windows and outdoors products as the main revenue source a recovery will be contingent upon a recovery in construction, IMO.