Roche Holding Ltd. (VTX:ROG) stands out even among high-quality, multinational companies with strong balance sheets and reasonable dividend-growth policies and a very long term view of their business, says Eric H. Jostrom, Chairman, CIO and Member of the Investment Committee at Ipswich Investment Management Co., Inc.
“The bellwether stock that I would cite in this regard would be Roche Holding. We have owned that stock for a long time, and when it was really battered in the global meltdown it was at the top of my list. And we bought the bearer shares in spades, so to speak, and we’ve been very well rewarded in that,” Jostrom said.
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Jostrom says Roche hasn’t changed its strategy with the financial ups and downs of the market, maintaining a consistent strategy throughout, and he says shareholders will be rewarded going forward.
“Nothing really changed at the company in terms of what was going on, its commitment to diagnostics, its commitment to oncology and genetics, that strategy is still in place. The company hasn’t been warped. We think the market really began to recognize that Roche has something very special. We think it will continue to reward the shareholders going forward. We have similar views on Novartis (NVS), but not with the conviction that we have on Roche,” Jostrom said.
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