I'm sorry for the things that I wrote to you as well. I wanted to understand why you were frustrated.
I have about 1,300 shares of ABT. I sold some shares this year at 55.07 to offset some capital loses. I took a big loss on BAC and HOG. I've been buying back ABT on recent dips.
I've got about 25 stocks in my portfolio. PG is my largest core holding. ABT is my 7th largest holding which I've held since 1987. My other core stocks are MO, NOC, PEP, MCD, WMT, PFE, BMY, KFT, PMI and KO. In May, I sold all of my REITs except for NLY. I've got 15% in CDs paying about 4% which I will be reinvesting in stocks when they mature. I'm also in 3 bond funds - PDTTX, VWEHX, and LSBDX.
I agree with you that the economy might not recover until early 2010. The market will continue to be volatile in 2009. I think we'll see the market and consumer confidence turn around by the 3rd quarter of 2009. I'm trying to maintain a positive outlook and buy some attractive stocks.
I typically don't sell a stock until I see the fundamentals change. This year has been an exception. I've been selling my underperforming stocks to preserve my capital. I don't have a target price for selling ABT. I know ABT will reach 65 at some point.
Merry Christmas to you, my friend.
2009 has got to be better!
Thanks for your kind words. I apologize for bickering with you, life is too short for that.
10,000 shares of ABT is the only larger stock investment I own. I bought tax free municipal bonds few years back and so far I am happy with them.
I am convinced that ABT will do ok in the long run but there are so many factors which may negatively affect its value. I am planning to sell once ABT reaches $65 but when that may be is anybody's guess. I hope by early 2010, once BO administration clarifies its health care policies and hopefuly by then the worst of the current economic downturn will be over.
Merry Christmas to you!
Thanks for sharing that with us. I can appreciate your frustration. I've sold my share of "dog" stocks this year. You should be thankful that you didn't own C, BAC, WM, ZQK, SBUX, ALD, CAKE, GE, HOG, CC, PBY, BBY, CSCO, INTC, FCX, GM, or F (the list goes on forever) instead of ABT. If you had 10,000 shares of any of those stocks now, you'd be raving mad over it.
Your situation with ABT reminds me of my frustration with WMT about 15 years ago. WMT was trading around 25 and did nothing for over 5 years. It finally broke through it's overhead resistance and more than doubled. My patience was rewarded. I believe the same will be true for ABT.
I have to disagree on ABT.
I held a very large position in ABTand I sold it 5 years ago and did much better in other investments. i re-purchased 10,000 shares of it and it has been very frustrating.
Merry Christmas to you,
I agree with the acceptance of being down only 10%. I've been investing in this stock since 1987 and am a long term holder. I'd rather have it in the low 50's to further accumulate the stock. I have no interest in seeing it at 65 but was in the crowd watching it temp burst through the 60 level. Unfortunately I didn't see the market meltdown of last October, so I am no longer predicting anytime soon a stock price above 60.
Thanks and happy holidays to you and yours also. To answer your question, re: my portfolio, ABT has by far held up the best during these tough times. I began buying it as an employee in 1990. It has been solid ever since. Reinvest the dividends and let it ride! GLTA (even you Jak)
wait for the drop to 39-42...start buying at 45 though.....i'm guessing it will pseudo-rally into x-mas / new year then drop by earnings....just a guess
abbott is still dropping employee numbers and gearing up for ADD move to Germany.....and eventual sale???? so it might start moving mid-2009.....again....just a guess
if i knew anything i wouldn't be sitting on a bunch of worthless jan. 55 calls.
best of luck
ABT price has been mirroring exactly and precisely the moves on Daw Jones, S&P. This has been happening for the last several months so don't expect this stock suddenly become a "safe pharma stock" of the times long past.
ABT has the same problems as all the other pharma/health care stocks and will NOT outperform regardless of the earnings. There are here on this MB several individuals who live in a fantasy land anticipating ABT at 65 and then even higher in not too distant future.
That is NOT going to happen.