RE:RE:BNN Fri 19th Aug interview with ABTHi Mustang Matt:
I was the guy who sold before earnings and posted about it. Truthfully I sold only on valuation, % return already earned and a general desire to raise my cash position. I did not expect earnings to disappoint as they did. A bit of dumb luck, I guess.
Obviously I continue to watch ABT and would consider buying in again but I will probably wait another quarter to see if earnings improve. On the technical side things looks abysmal in the short term for ABT, though I don't use technical analysis as a primary investment tool. I also continue to anticpate a general market pullback and am keeping my cash position around 35% so anything I buy in the near term will have to be no brainers, and there's not a lot of that in the market right now as far as I can see.
As for what fair value is and what's a good entry point...I can't really say. Depends on your belief in the company's ability to improve earnings, your timeframe for investing, etc. ABT still pays a healthy dividend so you will be paid to wait. But I only know I'm not comfortable buying ABT tomorrow so I won't be. But my views change as the market change,
Best,
El Joro