I used to think his is smart and has class but his action recently demonstrate he is just a low life. He is helping his friends to cover a big short position on Valeant.
I hope he gets diabetes for drinking 5 cans of coke and die miserably for making little kids sick when they get older. He probably has another 5 years then die of cancer. A perfect ending for an evil man.
At 92, he can't even talk clearly and yet his heart is full of hatred toward Valeant. He is worse than moron. Devil is a better description.
Their mistake was raising more than 50% on two drug. They can raise price 15% across the board if they wish, since every pharma does it.
According to data compiled by the Social Security Administration: A man reaching age 65 today can expect to live, on average, until age 84.3. A woman turning age 65 today can expect to live, on average, until age 86.6.
Buffet at 85 and Munger at 92 could die of heart attack any moment so they just want to put in their last words before they die. Both couldn't speak clearly or coherently.
Now holding 5,905,156 in total. The next 15 days we will see who else is buying. Buy all you can.
Compare to other big pharma, using:
1. Revenue of $12 billion as a metric, the stock should be trading at 4 X revenue or $48 billion or $140 per share
2. FCF of $3.2 billion per year, the stock should be trading at 3.2 X 10 or $32 billion or $100
I am so happy that the stock went down to $26 for me to increase my position 10 folds.
Once in a lifetime opportunity with a large cap.
"Bill Miller, manager of the $2 billion Legg Mason Opportunity Trust, says he sank about 3.5% of the fund into Valeant VRX, in late March and early April, mostly at prices between $28 and $32 per share"
People are getting rich for a reason. People buy high and sell low deserve to be poor.
Buffet best quote: "buy when others are fearful"