Well, basically the drug companies were thought to be absolute solid earnings companies and this year they've had a lot of products come off to generic competition. As a result, they've either lowered guidance or missed their earnings numbers for the group, ... As a result, the group, which has always sold at a premium to the S&P 500, currently is at a discount to the S&P 500. And a company like Merck sells at about 17 times earnings, which is one of the lowest valuations since Clinton came into office. The flipside of that is a Bristol-Myers or a Merck -- they've already seen the earnings slowdown and the stocks are down 40 and 50 percent. Many of them are getting to levels that you really can start to buy. David Katz
Motivational, Inspirational, Funny Quotes
![[Symbol Technologies is] not a household name but everybody knows their products. They're a bar coding company, so when you return an Avis car that's the bar coding that they're doing, ... They are a productivity improver. They need capital spending from corporate America but when that comes back, we think that the stock, which was at $40 two years ago, has about 50 percent upside. - David Katz Quotes](/pic/img/img.php?text=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&author=ICBEYXZpZCBLYXR6ICAgIA==&num=1 "[Symbol Technologies is] not a household name but everybody knows their products. They're a bar coding company, so when you return an Avis car that's the bar coding that they're doing, ... They are a productivity improver. They need capital spending from corporate America but when that comes back, we think that the stock, which was at $40 two years ago, has about 50 percent upside. - David Katz Quotes")
