09-13-2019, 06:47 PM
(09-13-2019, 06:12 PM)stockguru Wrote: Here’s another example. A lot of you bought ABBV and GILD $10-15 higher then where there trading at now. I heard there so cheap? Trading at historic low PE. That didn’t work out too well lol. Just saying you never know. Sometimes it’s a crap shoot.
It's often a crap shoot more often than it isn't when you try to pick the bottom on a stock where the fundamentals have changed. You'd have to be delusional to think ABBV is in the same situation as it was years ago when patents on a blockbuster drug were in the far distant future. I'm still trying to nibble a position selling ABBV puts, but I know I am buying damaged goods for now, and the price isn't quite the smoking deal a historical price chart might suggest. Thye have work to do, and I believe they have the resources to succeed. And of course the stupid good dividend for now.