On Wednesday we trimmed our position in AbbVie in client accounts that were overweight the position. We first invested in AbbVie as a byproduct of its spin-off from Abbott Labs. We then increased our AbbVie position to a full portfolio… Read More
Why We Trimmed Discover Financial Services [Video]
A year ago we bought Discover Financial Services (DFS) when it was trading at a deep discount to our estimate of fair value. Discover was trading at a deep discount because of the pandemic market panic and fears of the… Read More
Why We Trimmed Microsoft & Costco
This week we trimmed Microsoft (MSFT) and Costco (COST) in the AMM Dividend Growth Strategy. These were rules-based trades. We only traded in accounts that had overweight positions in Microsoft or Costco. We’ve owned Microsoft since the start of the… Read More
Coronavirus Risk and Your Portfolio
If you have been following the news over the last few weeks, then by now you are aware that 1) there is a novel coronavirus spreading around the globe, and 2) global stock markets have been selling off as a… Read More
Why We Sold Some Disney
On Tuesday we sold a portion of our position in Disney. We still have a high conviction for Disney as it integrates the recently acquired Fox assets, builds out its streaming service, and implements the Disney as a Service business… Read More
Why We Sold Gilead Sciences (GILD)
We started buying Gilead Sciences over 1 year ago. Over a week ago we sold it. Our original thesis on Gilead was 5-fold: 1) a stabilization of its HCV business (which had been declining), 2) its leading HIV treatments, 3)… Read More