I liquidated WMT today at $59.08, for a gain of 25%. When I bought this position about a year ago, I felt that its overseas operations, which make up more than 20% of revenue now, was being under-valued, and that a potential recession could boost its domestic market share. Also, Joel Greenblatt’s huge position in this stock was a major factor in my decision. Still, at today’s prices, and with a 1.60% dividend yield, I felt that my cash can be better deployed in other excellent companies which sport much higher dividends.
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“Chinese Penny Stock Lands Deal with Wal-Mart”
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Market News Morning: Dick’s (NYSE:DIC), Wal-Mart (NYSE:WMT), McDonalds (NYSE:MCD), Bank of Amer...
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Less Is Now Better
(Financial Armageddon, 2/15/10)


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