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What Did You Buy Today?
picked up some MCK
Good buy in MCK. I bought some AMGN, BUD and little FB today. FB not such a smart buy today. But over the long haul its cheap at just 20X next years earnings.
(11-02-2016, 05:46 PM)divmenow Wrote: GILD getting interested down here. I may nibble before the day is over.
Added to my positions in WTR, WFC and LOW.
I added to CAH and RTN today. WTR looks very interesting. I know that company very well. Why the big selloff of late?
(11-07-2016, 12:00 PM)divmenow Wrote: WTR looks very interesting. I know that company very well. Why the big selloff of late?

I guess it's just returning back to a more normal valuation. It's an amazing company that you really can't go wrong with but it has been very expensive lately. (same for the other water utilities)
During this (short lived) dip, I picked up more OHI, T, F and PGX-- and today I'm up in all of them :-)
Wow CVS down $13 in pre-market. I had to buy down here at $70.30. Anyone else buying? I know a few of you here just bought at $84-85
Buying CVS down here
limit triggered at 69.95
Bought CVS at $70.40
Missed the open due to long lines at the poll, so I missed the bottom, but added to my CVS at $72.90 a few minutes ago.

The guidance for 2017 wasn't great but I don't see it as being a disaster. Flat growth year over year but management is still guiding for 10% annual growth long term.
Even using a pessimistic 6% EPS growth and 8% dividend growth over the next 5 years and a target PE of 14, I still get 10.9% annual returns over the next 5 years. I bought shares with intentions of holding it for the next 20+ years, so I see this as an opportunity more than a disappointment.

Long term trends of an aging population haven't changed. There is a short term blip due to losing Tricare and some other contracts, but I still think a high-single digit EPS growth rate going forward is likely. Especially considering the huge cash flows and a buyback program that will continue retiring 4-5% of outstanding shares every year.
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