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MRSEABREEZE - I also bought at $44.26 today for the following reasons:

1)The price has only touched this level a couple of times in the past 4 years. Big name growth names are currently out of favor and their multiples have been coming down. The P/E is the lowest it's been since 1997.

2)The stock is currently going through a rebalancing within the S&P 500 index. This rebalancing is resulting in index funds having less of a position in the common shares, hence the sell-off taking place the past couple of days.

3)WMT's return of equity is somewhere around 22% and they have a tremendous moat of protection around their business. They also have one of the best inventory control systems in merchandising (if not the best).

4)WMT is beginning to introduce higher quality merchandise within their product mix. I was always concerned about this because WMT was getting a reputation for selling junk. A few of the lower priced items I bought there didn't even last long enough (at WMT's lower price) to make me feel like I got a good value out of them. Apparently management was beginning to see this and is addressing it. It is also likely that management is concerned that Target will take market share with their higher quality merchandise. This shows to me that as large as the company is, they're still flexible.

For these reasons I think it's a good contrarian purchase at these levels.
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