Post #225 by ajm101 on the Falling Knives board

Investment Strategies / Falling Knives

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I feel like PFE is less of a R&D pharma at this point than a LBO shop pretending to be one, similarly to how Broadcom/AVGO pretends to be a technology company. Their "competency" is harvesting cash flow from acquisitions towards future acquisitions. Unlike AVGO, they have a ticking patent clock before Mylan / Teva / Reddy et al are nipping at their heels. They fill a niche in the economic ecosystem, but I'd rather do basket plays on development stage companies (things like https://twitter.com/adamfeuerstein discusses much better than myself).. and I avoid those, too. The Buffett "too hard pile" principle.

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