We are selling one of our names that has performed poorly this year, though not so bad recently, to invest in a company that I believe offers better long-term growth. The stock we are buying has pulled back sharply after moving to an all-time high recently and now trades at a historically low valuation (15.5 PE net of cash for a company that has historically grown and will most likely grow in the future in excess of 20%).
« Dismal Week | Main | Partial Recovery Week »
June 17, 2011
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