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In my case, JNJ. 20% overvalued according to M*.

I couldn't help but notice that my JNJ remained 20% overvalued today. But that's because M* increased its FV estimate from $114 to $118 offsetting the market price bump.

The older I've gotten, the more simplistic my investment style has gotten. First honest, capable, shareholder oriented management. Next a combination of large size and a defensive moat in an important market sector - able to ride out market cycles. Then a strong balance sheet with low/manageable debt. Thereafter diversification within the company to help balance out the market ups and downs. Finally wait for an good entry price and just hold on.

I only hold a very few stocks. Last time I bought was mid-2010. Got my JNJ just under $60 a share. Ditto XOM, but it hasn't done as well. Still I'm ahead of the game, and the dividend income is secure - in both cases. BRK is, by far, the largest holding.

Not trying to beat the world, or necessarily the market. Just want to sleep well and get a decent return. Always keep enough cash so I'm not forced to sell. Really investing for the daughter and grand-kids.

Like the restructured BAM. Thinking about it - probably have been for too long. But don't need to rush.
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