I always liked P&G. But it has always been too rich for my blood. You are absolutely right, it is a great company, maybe the greatest marketer in the world. So in that sense, a rich multiple is probably justified.
I will wait another couple of weeks to let the dust settle down before jump in.
Thanks Sam, I just called the number you gave me and will soon hopefully be listening to the conference call. I may wait to see if this market settles. It seems they are taking all the solid blues out and throwing them to the wolves. Anything to make huge returns seems to be the theme these days. Unfortunately great companies are getting little respect. and dot com telecomps are flying. The worm will turn and hopefully we will be in the companies that have blood in the streets. I recently bought MO and XRX. I believe in a 5 year plan. Did the same with INTC when everyone hated it. Wish I had done same with IBM.
Oh dear! My first post and I made a mistake. I bought shares yesterday and today at $58 and $59 dollars. Recycled some of my tech and Internut profits into a company which earns profits and pays dividends. What a novel concept. Once the market realizes the underlying financial strength of PG I think the stock could recover at least 25% from these levels within the next month or so. I also wouldn't be surprised to see PG aggressively expand their stock repurchase plan.
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