Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

I don't think that the long term problems you are citing (which I agree with) are imminent, it may take two three years and a dem win next year to come into play. The market have discounted a lot (and I think will discount more, thus my low OB on MERQ (below my "target low of the year of $44 from #msg-710613). The drugs are selling at historical low PE, even lower than at the height of the Hillary drive to reign these in, a lot of bad news is in while the 10% to 15% growth rate is maintained due to the geriatrization (no, you will not find this one in a dictionary, this one comes under the category, "when I don't know, I invent") of the population. Yes, and in this respect our opinions do diverge markedly...