Ken Crawford
Portfolio Manager
Argent Capital
Clayton, MO
Stock Picks 4-4-08
J.P. Morgan Chase & Co:
The catalytic merger of J.P. Morgan Chase & Co. (JPM) and Bank One (ONE) provided several advantages. JPM gained balance as its deposit base increased significantly with the addition of regional bank operations. The newly combined JPM appointed Jamie Dimon, long-time assistant to Sanford Weil at Citigroup, as its Chief Executive Officer. We believe the addition of Jamie Dimon is a game-changing event for the company, and is yet another catalyst for positive change going forward. With a strong balance sheet, JPM is well positioned in both good economies and bad. Finally, because JPM is trading below its peers on a price-to-book basis, we believe it represents favorable odds.
Covidien : COV
Covidien, Ltd. (COV) is the healthcare business spin-off of Tyco International Ltd. (TYC). COV is engaged in the development, manufacturing and sales of healthcare products for use in both clinical and home settings. Under the old TYC leadership, these businesses (which include brands such as Mallinckrodt, Kendall and Valleylab) were managed for cash with little regard for new product development. This resulted in slower growth and subsequent market share losses. Now, as an independent company, management is focused on restoring growth by driving innovation and increasing its exposure to higher growth businesses. Having the right strategy, freedom to execute on this strategy, and an attractive valuation represents favorable odds for our clients.
Steve Deutsch - Glenbrook South H.S. Congratulations Steve Deutsch of Glenbrook South High School, you are the Toyota High School Athlete of the Week - AGAIN!
Gridiron Greats Former Chicago Bear greats Mike Ditka and Gale Sayers have a plan to get medical care to banged up ex-players. WBBM's Debra Dale reports.
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