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Additional comment - I had my quarterly data keyed in wrong on my
spreadsheet, turns out that YoY earnings growth was low single digits
for the 4th qtr reported yesterday - so MER drops out of my CANSLIM-
derived screen of high growth companies for at least the next full
year. I don't anymore care if it breaks out again or gets great
mention on IBD etc.
Thankfully, the error cost 2 points - very little money considering
the lag between the commitment and the discovery - and shone a lot of
focus on some errors people like me take for granted won't happen:
- That we will not make stupid data entry mistakes.
- Fundamentals rule and therefore won't be compromised, no matter how
good the price pattern - esp for what are intended to be position
trades.
Sharing the above for general benefit.
Standing aside, it looks like the market no longer accords MER, SCH
and MWD blue-chip status in the business. GS seems to be gaining
ground here, as is C.
Times change.
Gitanshu
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