Friday, March 2, 2007

Retirement Nest Egg March 1 - 2007

Networth at the close of March 1, 2007 (up 6.8% from last month)

TRP - 4.18%
ABX - 4.09%
CSH.UN - 3.80%
GWO - 4.94%
PFE - 4.30%
POW - 4.18%
BA.UN - 0.38%
L - 3.78%
UNS - 2.80%
GZ - 2.87%
TD - 13.26%
MMM - 3.80%
O'Shaughnessy’s Global Fund - 4.02%
American Growth Fund - 1.08%
CDN Value Fund - 3.77%
Small Cap Growth Fund - 3.85%
Deep Value Fund - 10.89%
Health Science Fund - 0.92%
Bond (9% yield) - 5.53%
Money Market Fund - 17.57%

You may have noticed that my networth increased by a large percentage this month. Although this looks good it's not, because all of the percentage gain was a result of contributions and not investment returns.

9 comments:

advantage said...

I don't mean to put a damper on your holding but I am interested in your opinion on the following:

Loblaws stated goal going foward is 10% profit growth over the next 5 years. That being said, do you think the stock is priced fairly currenty?

Pfizer's payout ratio is around 70%. Does that concern you?

Middle Class Millionaire said...

Advantage,
I think that at 15X next years earnings L is fully valued – at least until they complete their restructuring and start to show some signs of turning things around. I like the changes that they’ve made and the fact that they are investing for the future, and returning to what they do best – food retail. They have strong brands and a dominant position in the world of Canadian food retail. I am going to continue to hold and take a wait and see approach to L.

I am more optimistic about PFE as I like many of the things they’ve been doing recently.
1. In Jan they announced a restructuring plan that should result in savings of up to $2 billion by the end of 2008. (although some those savings are through attrition)
2. They have a pretty clean balance sheet (with lots of cash).
3. They are aggressively repurchasing shares.

I think sales will probably be flat over the next couple of years but I’m not yet concerned about the expiry of their Lipitor patent as it’s still 4 years away. I’m going to continue to watch their pipeline (and collect the dividend) over the next couple of years and if there are no big drugs in the pipeline at that time I will re-evaluate why I own it. But currently I own it as a value play in the pharma space and I'm not worried about their payout ratio.

Cheers.

Sensei from CB Online said...

Hi,

I like the site and am thinking of one of my own.

I just have a question about a question, so to speak. What does payout ratio mean? I have a modest number of shares in Pfizer, so this caught my attention.

Thanks if you can help out.

Cheers

advantage said...

Payout Ratio:
The percentage of earnings paid to shareholders in dividends.

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