Has had more difficulty than the CIBC (CM-T) through this whole crisis. Current high dividend is probably sustainable but probably will not be increased in the next little while. Has some very good solid businesses but will suffer if the US continues to have problems.
Not a pure pharmaceutical company. Has a consumer part. Made a very good acquisition of Pfizer’s (PFE-N) consumer related products. Lots of cash. Going into the cosmetic surgery business. 3% yield.
Tech world will have a difficult time. Trading around 11X earnings. One quarter of their market cap is in cash. Has made some very astute acquisitions. Competition is falling by the wayside.
Capital Bonds 5.37% maturing 2037. Doesn't usually lend money for a long period but the spreads have widened out because of the credit issues. GE Capital is now a bank and their commercial paper is being bought by the US. Capital market is slowly being healed and he thinks the spreads will come in at which time you will have a huge capital gain.
Very well run company and they have some great products in the smart phone side. Cell phone market is shrinking slightly, which will hurt them. Balance sheet is slightly stretched but they throw off a lot of free cash.