Thursday, November 03, 2005

Good Bye Johnson & Johnson, Hello Amgen

I sold Johnson & Johnson (JNJ) today; it was pretty much dead money. I purchased JNJ in April & May 2003 and since that time I was only able to generate a total return of 13.13% (including dividends reinvested). Not a good return over a three year period. The pending merger with Guidant (GDT) is a big question mark for JNJ. JNJ needs a merger to grow its top line; it simply can’t generate strong organic growth by itself. I used the cash from JNJ and purchased some more Amgen (AMGN).


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