>>> GOOD WEDNESDAY AFTERNOON,
EVERYBODY.
WELCOME TO “THE HOMESTRETCH.”
I’M JEFF MARKS, JOINED BY JIM
CRAMER.
AND JIM, WELL — TO OPEN LOWER
YESTERDAY WAS OFF THAT HOTTER
CPI NEWS TODAY WAS THE HOTTER
RETAIL SALES NUMBER.
BUT THE DIP BUYERS HAVE COME
BACK AND AFTER BEING DOWN MOST
OF THE MORNING THE S&P IS NOW UP
FOR THE DAY WITH THE NASDAQ
OUTPERFORMING.
WHAT DO YOU THINK IS HAPPENING
HERE, JIM?
>> WELL, OKAY.
I THINK THAT TODAY IS A DAY
WHERE PEOPLE WANT TO SELL THE
SOFT GOODS AND BUY THE
CATERPILLARS.
THAT’S BECAUSE WHAT WE’RE SEEING
IS THAT NO MATTER WHAT THE FED
DOES WE STILL HAVE SOME STRENGTH
IN THE ECONOMY.
NOW, WE WOULD LOVE FOR THE FED
TO BE ABLE TO DECLARE VICTORY
BUT WE KNOW FROM WHEN THE FED
SPOKE LAST TIME THAT YOU WON’T
DECLARE VICTORY.
THEY SAID AND COMMITTED TO AT
LEAST TWO QUARTERS.
WHAT’S HAPPENING NOW IS THE
PEOPLE WHO WERE MISTAKENLY
BELIEVING THAT THIS WAS GOING TO
BE THE END OR WE WERE GOING TO
GO INTO RECESSION — IN OTHER
WORDS, THE PEOPLE WHO WERE
BUYING THE TEN AND 20 YEAR AT A
MUCH LOWER RATE — THEY’RE
WRONG.
WE’VE BEEN SAYING THEY’RE WRONG.
WE ARE GETTING THE REASON WE’VE
BEEN BUYING STOCKS LIKE
CATERPILLAR IS WE’VE BEEN RIGHT
IN THERE ISN’T GOING TO BE A
RECESSION AND THE FED IS
ENGINEERING A SOFT LANDING TO
MAKE SURE THE COMPANIES THAT DO
WELL WHEN THE ECONOMY IS WELL,
PARTICULARLY THE ONES THAT HAVE
THE BACKING OF THE
INFRASTRUCTURE MONEY ARE THE
ONES TO BUY.
AND PEOPLE WANT TO SELL THE DRUG
STOCKS TODAY BECAUSE PEOPLE FEEL
WHY SHOULD WE BUY STOCKS GOING
INTO RECESSION.
THIS IS OUR TYPICAL SOME ARE
GOING TO BE UP, SOME ARE GOING
TO BE DOWN BECAUSE OF A
DIVERSIFIED FUND AND WE CAN PICK
AND CHOOSE TO BUY THE STOCKS
THAT ARE DOWN TODAY.
I THINK IT’S TOO EARLY.
>> ABSOLUTELY.
WE’RE LEARNING MORE INTO THE
INFRASTRUCTURE WINNERS YOU
MENTIONED CATERPILLAR EARLIER,
WE BOUGHT YESTERDAY, AND TODAY
WE ADDED TO OUR POSITION IN
EMERSON ELECTRIC.
OF COURSE, THIS HAS BEEN — I’LL
CALL IT AN UGLY SITUATION SINCE
THEY ANNOUNCED THAT HOSTILE
TAKEOVER OF NATIONAL INSTRUMENTS
BUT I THINK THERE ARE TWO WAYS
TO SEE THIS PLAYING OUT, ONE
THEY GET NATIONAL INSTRUMENTS
FOR UNDER $60 IT’S A WIN.
BY THE WAY, NATIONAL INSTRUMENTS
IS NOW TRADING BELOW EMERSON’S
OFFER OF $53, SLIGHTLY BELOW.
BUT THAT MAY IMPLY THERE’S NO
SECOND BUYER OUT THERE.
IF EMERSON DOES WITHDRAW THE BID
I THINK THE STOCK COULD RALLY
TOO BECAUSE PEOPLE DIDN’T LIKE
IT.
A LOT OF UNCERTAINTY BUT THE
QUARTER WAS FINE.
ORDERS WERE STILL GOOD AND
MAINTAINED THE FULL YEAR GUIDE,
THE BACKLOG INCREASE, SO YEAH WE
PICKED UP SOME SHARES HERE.
>> LET’S TALK ABOUT EMERSON FOR
A SECOND.
HERE’S THE REASON WHY THE STOCK
WENT DOWN.
THE CEO — I APOLOGIZE FOR THE
ENDLESS SIRENS MIND ME.
THE CEO, CARSON BUY, PRETTY MUCH
GUARANTEED THAT HE WAS ABOUT TO
DO A DEAL.
THIS WAS IN CONJUNCTION WITH THE
QUARTER.
HE PRETTY MUCH HAD AN AGREEMENT
AND THEN NATIONAL INSTRUMENT
DECIDED LISTEN, WE’RE GOING TO
RUN A PROCESS.
I THINK YOU’RE DEAD RIGHT, JEFF.
THEY’RE RUNNING THIS PROCESS.
IF THEY WERE RUNNING THE PROCESS
AND THERE WAS ANY SUCCESS, THE
STOCK WOULD BE 54, 55.
IT’S OBVIOUS THE PROCESS HAS
BEEN A FAILURE AND THE ONLY BID
OUT THERE IS EMERSON.
NOW EMERSON, AWAY FROM THE DEAL
WILL GO HIGHER BECAUSE THEY’LL
ANNOUNCE A BUYBACK.
EMERSON WITH THE DEAL WITH GO
HIGHER.
WE WAITED UNTIL IT GOT TO A
LEVEL WE FEEL IT FLUSHED OUT
SELLERS.
AT THIS POINT WE HAVE A COMPANY
LEVERED TO INFRASTRUCTURE,
THEY’RE WORKING ON THE GRID TO
MAKE IT SO IT CAN HANDLE SOLAR
AND ALSO HANDLE — IT CAN HANDLE
BATTERY.
ANYTHING THAT MAKES IT SO THAT
THE GRID IS UP TO DATE.
THEY DO THAT OBVIOUSLY THEY HAVE
A LOT OF NUTS AND BOLTS FOR THE
ECONOMY.
I THINK WHEN YOU LOOK AT IT, YOU
NOW AT 85 — WELL, A LITTLE BIT
HIGHER NOW.
YOU FACTORED IN THE GOOD AND THE
BAD.
THAT’S WHY YOU HAVE TO BUY IT.
I THINK WE SHREWDLY WAITED UNTIL
THE SELLERS HAVE GOTTEN AWAY.
THE COMPANY ITSELF IS VERY GOOD.
SO I FEEL GREAT WE’RE GOING TO
SEE EITHER NTLI OR NO NTLI AND
AT 85 IT WORKS.
OBVIOUSLY AT 95 IT DIDN’T WORK.
95 YOU HAD TO HAVE EVERYTHING GO
RIGHT.
THAT’S A SHAME BECAUSE THE
COMPANY DID ASSURE PEOPLE THAT
EVERYTHING WAS GOING TO GO
RIGHT.
NOW WHAT YOU HAVE IS A STOCK
THAT I REGARD, I KNOW THIS IS A
DANGEROUS TERM, I’LL GO INTO IT
WHEN WE TALK OILS.
THAT IS DE-RISKED.
I LIKE A STOCK THAT’S DE-RISKED
WHICH IS WHY I THINK EMERSON IS
A GREAT BUY.
>> BEFORE WE GET TO THE OILS
LET’S TALK NEW NAMES.
WE INITIATED A POSITION IN PALO
ALTO, IN CYBER SECURITY.
THEY’RE A LEADER WITH
TECHNOLOGY, THE CEO HAS MADE
THAT PIVOT TOWARDS PROFITABILITY
CONTRIBUTED TO GROWING MARGINS
HIGHER AND GROWING FREE CASH
FLOW.
THEY EXPECT TO BE PROFITABLE
THIS YEAR IF THEY CAN DELIVER
FOUR QUARTERS OF PROFITABILITY
THIS COULD BE THE NEWEST NAME IN
THE S&P 500.
>> THAT’S A GREAT CALL.
OKAY.
SO LET ME GIVE YOU MY PERSON
POSITION.
NAKESH WAS THE FIRST PERSON WHO
REALIZED, AND CALLED ME ON THIS,
I UNDERSTAND THERE’S A BIG
CHANGE GOING ON WITH TECH.
YOU HAVE TO SHOW GAP
PROFITABILITY.
SO HE WAS THE FIRST ONE TO
PIVOT.
NOW YOU’RE SEEING OTHER ONES
PIVOT, AIRBNB PIVOT.
SAW A PIVOT WITH MONDAY.COM.
WE SAW A PIVOT WITH FASTLY.
NOW SOME COMPANIES HAVE NOT BEEN
ABLE TO PIVOT, AND THOSE ARE THE
COMPANIES THAT ARE BEING LEFT
BEHIND.
LYFT HASN’T FIGURED OUT HOW TO
DO IT.
SOME OF THE COMPANIES THAT ARE
PURE ENTERPRISE SOFTWARE,
UPSTART HASN’T FIRED OUT HOW TO
DO IT.
BUT PALO ALTO IS FIRST.
THEY’VE COME AS THE STAR FOR ON
PREMISES AND FOR CLOUD.
AND THAT’S NAKESH’S DEALINGS
WITH THE CLIENTS WHO HAVE BOTH
ON PREMISES AND ON CLOUD.
SO THIS IS, TO ME, THE ULTIMATE
ONE IN TERMS OF THE — THE
ABILITY TO BE ABLE TO PROFIT IN
AN AREA WE KNOW CYBER SECURITY
IS A REAL PROBLEM.
BY THE WAY, NONE OF THE OTHER
CYBER SECURITIES ARE — I GUESS
YOU HAVE THE CYBER ARK IS GOING
TOWARDS THAT.
SAW IT A LITTLE BIT WITH
FORTINET SO NOT STABLE ENOUGH.
I THINK PALO ALTO IS GOING TO BE
A HUGE STOCK AGAIN FOR 2023 BUT
I DON’T LIKE TO BUY IT ALL AT
ONCE BECAUSE WE KNOW WE HAVE A
FICKLE MARKET.
MAYBE GET A CHANCE TO BUY LOWER
BEFORE OUR BIG ANNUAL MEETING
WE’D BE THROWING.
>> YEAH, ABSOLUTELY.
IF WE SEE ANY WEAKNESS WHEN THE
COMPANY REPORTS NEXT WEEK I LOOK
TO THAT AS A LONG TERM BUYING
OPPORTUNITY.
JIM, YOU MENTIONED DEVON.
WE TALKED ABOUT ENERGY EARLIER.
DOWN SIGNIFICANTLY TODAY.
I HAVE SOME NOTES FROM THE
CONFERENCE CALL.
THEY DID SAY THEY EXPECT TO BE
MORE AGGRESSIVE WITH THEIR
BUYBACK THIS YEAR, ESPECIALLY ON
DAYS WHERE THEY’RE WEAKER
RELATIVE TO THEIR PEERS SO A DAY
LIKE TODAY THEY WOULD BE BUYING.
THEY HAVE A GREAT BALANCE SHEET
SO THEY DON’T HAVE TO SPEND TOO
MUCH CASH ON DEBT.
TEMPORARY ISSUES, Q1, THEY
EXPECT VOLUMES TO RECOVER,
INCREASE THROUGHOUT THE YEAR.
CAP X GUIDE HIGHER BECAUSE OLDER
CONTRACTS ARE RENEWED AT A
CURRENT RATE.
STOCK IS DOWN ABOUT 11% RIGHT
NOW.
I THINK IT’S OVERDONE.
JUST GIVEN THE QUALITY OF THE
COMPANY, $40 BREAK EVEN WTI, $40
PER BARREL.
BUT THERE’S DEFINITELY A FEAR
NOW CONSIDERING THAT WE’RE
SEEING THE REACTION COULD THIS
HAPPEN TO PIONEER, TO COTERRA
WHEN THEY REPORT.
AND THEIR DIVIDENDS ARE LIKELY
TO BE LOWER LIKE DEVON.
>> WHEN YOU SEE A STOCK DOWN
11%, THAT’S BIG INSTITUTIONS
PANICKING.
THEY ARE BASICALLY TELLING THE
TRADING DESKS RIGHT NOW, I DON’T
WANT ANY DEVON ON MY SHEETS.
SO WHAT HAPPENS IS, TOMORROW IS
A DOWN DAY, TOO.
BECAUSE THEY WON’T BE ABLE TO
FINISH SELLING.
DEVON WILL PROBABLY BE BUYING
BACK AGAIN TOMORROW.
THE NEW BASELINE WILL BE
TOMORROW NOT TODAY BECAUSE WHEN
PANICKED PEOPLE HAVE A MILLION
SHARES TO GO, THEY CAN’T SELL IT
ALL AT ONCE.
THEY WILL SELL PIONEER BECAUSE
THEY’LL FEEL SCOTT SHEFFIELD
WILL HAVE THE SAME PROBLEM.
COTERRA IS A LOT OF NATURAL GAS.
IF YOU DON’T HAVE A LONG-TERM
VIEW ON THESE, I THINK WHAT
YOU’RE GOING TO HAVE IS — I
DON’T WANT YOU TO PANIC IS WHAT
I’M SAYING.
I THINK YOU’LL BE DISAPPOINTED.
I’M DISAPPOINTED THAT DEVON HAD
THIS PRODUCTION PROBLEM.
THESE STOCKS ARE GOING LOW
ENOUGH FOR ME TO SAY, OKAY,
LOOK, WE HAVE A BASELINE
OURSELVES THAT SAYS LISTEN WE DO
WANT TO HAVE SOME OIL, NATURAL
GAS IS VERY, VERY LOW I THINK
NATURAL GAS IS ABOUT TO HAVE A
VERY BIG RUN.
OIL — THAT’S CALLED THE
SHOULDER MONTHS THEY HAVE TO
START — THEY NEED TO START
FILLING UP, I KNOW IT SOUNDS
WEIRD FOR AIR CONDITIONING.
I FEEL LIKE COTERRA IS GOING TO
BOTTOM MAYBE 21, 22, PIONEER
GOES LOWER.
IF WE WERE TRADERS MAYBE WE’D BE
OUT IN IT, BUT WE’RE NOT
TRADERS.
AND I THINK WE WANT TO STAY THE
COURSE BUT WE PROBABLY WANT TO,
JEFF, CONSOLIDATE INTO TWO OF
THESE.
NO NEED TO HAVE THREE DIFFERENT
OILS.
>> RIGHT.
AND WE CAN MAINTAIN OUR ENERGY
EXPOSURE, KEEP THAT THE SAME
JUST BY CONSOLIDATING.
BUT DISTRIBUTING THAT CASH INTO
TWO OTHER ONES.
I THINK THAT’S A GOOD STRATEGY.
WE DON’T LIKE TO HAVE TOO MANY
NAMES IN THE PORTFOLIO.
YOU KNOW, JUST BECAUSE OF ALL
THE — ALL THE WORK THAT IT —
YOU KNOW, IT TAKES TO CONSTANTLY
KEEP UPDATES.
WE LIKE TO BE, YOU KNOW, LOW
30s, AROUND 30 — I BELIEVE 35
NOW.
AFTER THE PALO ALTO ADDITION.
SO SOMETHING TO CONSIDER IN THE
WEEKS AHEAD.
JIM, YESTERDAY THE CEO OF BAUSCH
AND LOMB, ANY THOUGHTS THERE?
>> ABSOLUTELY.
THIS IS ONE BECAUSE OF THE COURT
CASE WE COULDN’T GET ANYTHING
OUT OF THE COMPANY.
IT’S A SUBSIDIARY OF BAUSCH
HEALTH.
IT’S PROBABLY THE FOREMOST
MEDICAL AND NONMEDICAL EYE
MEDICINE COMPANY THERE IS, IF
ANYONE HAS CONTACT LENSES
THEY’RE MORE LIKELY TO BE BAUSCH
AND LOMB THAN ANYTHING ELSE,
THEY HAVE TREMENDOUS SHARE.
I KNOW BRENT FROM WHEN HE TOOK
ALLERGAN AND SOLD IT TO ABBVIE
FOR A BIG PREMIUM.
FIRST HE TRIED TO MERGE IT AND
IT FAILED.
HE HAS TWO CHOICES HE CAN MAKE
THIS COMPANY INTO THE COMPANY IT
SHOULD HAVE BEEN IF IT WAS RUN
JUST FOR BAUSCH AND NOT THE
DIFFERENT DRUGS THAT WERE A
DISTRACTION TO JOE.
SO HE CAN RUN IT LIKE THIS, GET
IT HIGHER BASED ON EARNINGS.
OR HE CAN SELL THE COMPANY AND
SELL THE COMPANY FAST WHICH
WOULD GIVE BAUSCH HEALTH A LOT
OF MONEY TO TIDE OVER WHEN THEY
WAIT FOR WHAT HAPPENED.
SO I’M NOT URGING PEOPLE TO BUY
BAUSCH HEALTH.
AGAIN, WE HAVE A COURT SUIT THAT
COULD COME IN — WE’LL TALK
ABOUT J&J IN A SECOND AND COURT
SUITS.
IT SAYS BLCO WAS SUPPOSED TO GO
TO 2024 BUT IT DIDN’T HAVE ANY
MANAGEMENT PER SE.
NOW IT HAS MANAGEMENT, BAUSCH,
THE BLCO KIND IS GOING TO START
GENERATING THE KIND OF EARNINGS
THAT BRENT SAUNDERS CREATED WHEN
HE RAN — HE’S RUN SEVERAL
COMPANIES.
SO THIS IS A SEASONED HAND WHO
REALLY UNDERSTANDS WHAT TO DO.
I THINK IT’S VERY EXCITING.
I THINK THAT BAUSCH AND LOMB
COULD GO TO THE MID 20s.
AT THAT POINT IT’S A WINDFALL
FOR BAUSCH HEALTH.
SO WHY AREN’T YOU SAYING BUY
BAUSCH HEALTH?
I HAVE TO BE COGNIZANT IF THEY
LOSE THE APPEAL THE STOCK GOES
LOWER FROM HERE.
SO YOU KNOW THE UNCERTAINTY.
THE GOAL IN A PORTFOLIO MANAGER
IS TO HAVE AS LITTLE UNCERTAINTY
AS YOU CAN.
AND RIGHT NOW WE HAVE THE OILS
ARE UNCERTAIN.
WE HAVE J&J THAT ARE UNCERTAIN
AND BAUSCH HEALTH.
I THINK BAUSCH HEALTH HAS DOWN
SIDE IF IT LOSES THE APPEAL BUT
BIG UPSIDE IF IT WINS THE
APPEAL.
ANY TIME WE LEFT THE PORTFOLIO
WHO LITIGATION, IT’S NOT BEEN A
GOOD STRATEGY BECAUSE WE CAN’T
TELL YOU WHAT TO DO.
I SAY WE — I KNOW WE’RE GOING
OVER HERE BUT I DIDN’T GET TO DO
THE MORNING MEETING.
I THINK WE HAVE TO WATCH IT.
BUT IT’S CERTAINLY VERY POSITIVE
BLCO IS NOW RUN BY A TERRIFIC
CEO.
>> I ABSOLUTELY AGREE.
LOVE BRENT.
THE ALLERGAN SALE WAS A WIN FOR
ALLERGAN AND ABBVIE
SHAREHOLDERS.
YOU MENTIONED J&J —
>> THE OTHER THING THAT’S GOOD,
BRENT WILL TAKE MY CALL.
I CAN GET BRENT ON “MAD MONEY”.
ONE THING THAT DISTRESSED ME I
COULDN’T GET A RETURN CALL FROM
EITHER COMPANY.
I’VE DONE A LOT OF CHARITY STUFF
WITH BRENT BECAUSE HE STEPPED
OUT, IT WAS OKAY FOR ME TO
START — TO BECOME HIS REAL
FRIEND.
SO I AM GOING TO HAVE A SOURCE
AT THIS COMPANY AND THAT’S GREAT
FOR US.
I WANT TO URGE EVERYBODY TO STAY
TUNED ON THIS.
BUT REMEMBER, WE DON’T OWN BLCO
BUT WE DO OWN THE COMPANY THAT
BENEFITS THE MOST IF BLCO GOES
HIGHER.
SORRY, I DIDN’T MEAN TO CUT YOU
OFF.
>> NO, NO, THAT WAS GREAT
INDIRECTLY.
WE MAY BE SHAREHOLDERS IF THEY
DO SPIN IT OFF LATER THIS YEAR.
I KNOW WE’VE RUN OVER A LITTLE
BIT ON TIME.
DO YOU WANT TO TALK J&J?
>> YEAH.
>> THEIR TALC LAWSUIT?
>> YEAH, THIS IS A TOUGH LAWSUIT
THEY’RE FACING.
IF THEY LOSE, THEY’LL APPEAL,
THEY’LL APPEAL, APPEAL.
THE PLAINTIFFS’ BAR OBVIOUSLY
KNOWS THEY HAVE A LOT RIDING ON
IT.
J&J ITSELF DOESN’T REALLY HAVE
ANY COMMENT TO SAY, OTHER THAN
THE FACT THAT WE’VE BEEN VERY
FORTHCOMING SAYING THERE’S A
HUGE NUMBER OF SUITS.
WE’VE WON SIX OUT OF EIGHT.
WE’RE GOING TO TAKE — MORE THAN
LIKELY GOING TO TAKE THE
BANKRUPTCY TWO STEP TO FILE
BANKRUPTCY AND CREATE AN ENTITY
TO PAYOFF CLAIMS.
THEY’LL GO TO THE SUPREME COURT
KNOWING THE SUPREME COURT IS
VERY PRO-CORPORATION RIGHT NOW.
IT’S A MESS, WHEN THEY HAD THE
PUBLICITY, STOCK DROPPED ABOUT
20 POINTS, ON A PERCENTAGE BASIS
WE’RE STILL NOT THERE YET.
I’M ON VACATION AND I’M SICKENED
BY THIS.
I GET UP AND I THINK ABOUT THIS.
IT’S VERY DISTRESSING TO ME, AS
IS DEVON.
I’M YOUR HELPER HERE, JEFF IS
YOUR HELPER HERE, AND WE
CAN’T — WE FAILED YOU IN SOME
WAYS.
AND I TAKE PERSONAL
RESPONSIBILITY.
I’M NOT GOING TO SAY THAT I
DIDN’T THINK THAT DEVON WOULD
HAVE A GREAT QUARTER.
I WAS SURPRISED THEY HAD A BAD
QUARTER.
I DO THINK THAT PIONEER AND TO A
MORE EXTENT COTERRA ARE MORE
HOSTAGE TO PRICES.
YOU COULD SAY WHY NOT BLOW THEM
OUT.
WE HAVE THE HIGHEST QUALITY
COMPANIES.
J&J IS A TRIPLE A — I NEVER
WANT TO LET YOU DOWN.
JEFF NEVER WANTS TO LET YOU
DOWN.
I’M HERE ON VACATION BECAUSE
IT’S IMPORTANT FOR YOU TO KNOW
HOW MUCH I CARE.
JEFF, SOMETIMES THINGS GO WRONG,
THEY GO AWRY AND THEY CAN BOUNCE
BACK.
WE’RE DOING OUR BEST WHEN WE BUY
CATERPILLAR YESTERDAY, A
TERRIFIC BUY.
EMERSON IS GOING TO BE A GREAT
BUY.
WE’LL HIT J&J WHEN IT’S
BOTTOMED.
SAME WAY I FEEL ABOUT PROCTOR
AND GAMBLE.
I’M GOING TO WORK MY BUTT OFF TO
MAKE SURE WE GET THINGS RIGHT
BECAUSE THAT’S WHAT WE DO FOR
YOU CLUB MEMBERS.
JEFF, I DON’T KNOW HOW ELSE TO
PUT IT.
>> THAT’S A GREAT WAY TO END IT.
I WAS GOING TO SQUEEZE ONE MORE
THING IN THERE.
>> SURE.
>> LILLY WAS DOWNGRADED TODAY.
THEIR PRICE TARGET WAS 202
BEFORE THIS.
ELI LILLY HASN’T TRADED BELOW
200, SO IF YOU’RE SELLING
BECAUSE STOPGEN DOWNGRADED IT
TODAY, THEN YOU’RE JUST — THEY
HAVEN’T BEEN THE ONES TO FOLLOW
ON THE STORY.
SO I DISAGREE WITH THAT
DOWNGRADE DIRECTLY.
BUT THAT’S ALL I HAD, JIM,
THANKS FOR JOINING US —
>> LET ME ADD ON LILLY, OKAY —
>> PLEASE.
>> NO ONE ORDERS, THEY GO TO —
THERE’S NO MORE CAPACITY FOR
NORTIS.
NONE.
THAT MEANS GREEN FIELD FOR
LILLY.
I DON’T THINK ANYONE SHOULD SELL
THIS ON THE NOTION THAT THERE’S
AN ANALYST WHO MISSED THE WHOLE
THING IS SAYING SELLING.
WHAT I DO SAY IS, YOU CAN ACCEPT
THE FACT WHEN LILLY GETS
PRODUCTION UP THEY’LL BE ABLE TO
SELL MORE AND THE DEMAND WILL BE
TREMENDOUS WORLDWIDE.
I WANT TO PUT THAT OUT THERE
THAT I THINK THIS GUY DOESN’T
UNDERSTAND YOU HAVE A TIGER BY
THE TAIL AND HE’S MAKING A BIG
MISTAKE.
>> THAT’S GREAT.
THANK YOU EVERYONE FOR TUNING IN
TO “THE HOMESTRETCH.”
WE’LL SEE YOU AT THE “MORNING
MEETING” TOMORROW.
HAVE A GREAT DAY.