Applied Materials Inc.  Selling at 53.45.  I suppose the risk is that semiconductors are cyclical and supply is currently stockpiled and thus we could experience a big comedown.  I think that the supplier to the semiconductor is probably less exposed to the cyclical nature of the business.  Cap is 56.  P/E is 16.86.  Div yield is .75.  PEG is .95.  Nothing crazy happening with insiders.  Book value is at 882.  P/B is at 6.74.  EPS growth is at 8.44.  FOrward EPS is at 17.68.  Book value per share is at 5.26.  RoE is at 40.44.  Debt is at 56% of equity.  Assuming a RoE of 35, which is reasonableish given their low book value and given their top line growth projections, this is a nice business.  Does the semiconductor supplier business get sidetracked?  How do we feel?   I have 350 shares at 52.9.  I will buy more if we get to 50.

Facebook.  Just bought 50 shares at 179.64 after the fall yesterday when zuckerberg stated they would be changing the facebook experience.  I view this like the changes google periodically makes.  Facebook just shouldn’t announce these things….but I took this as an opportunity to buy.  Selling at 179.37.  CAp is 521.  I value facebook at 1,000. per user, and I think facebook estimates that it makes 5$ per user per year.  Analysts are still bullish after its runup.  Growth is essentially off the charts.  P/B is at 8 with book value of 25.  Book value growth is hugh at almost 70%.  Return on equity is at 24.  No debt.  So this is a growth play.  Will facebook continue to grow?  Will their lunch get eaten by someone else?  My thought is that facebook advertisements are cheap and they will continue to increase in price sans recession.  There is an element of funny money here though.  P/E is at 34.76.  Still, google might be the better company.

Just sold some philip morris usa btw.  I can’t see a reason to think it’s really going to grow.  Seems like a speculative play on marijuana and this iqos machine.

ACN.  One of my favorites.  Selling at 160.11, and first bought in at 120.  Cap is 102b.  P/E is at 28.34.  Div yield is 1.66.  P/B is at 14.79.   EPS growth is pegged at 8.53.  Long term at 9.90.  I think this company knows how to manage their earnings.  P/B increase is at 1664.  Free cash flow is at 4.43 billion per year.  RoE is at 41.71 per year.  No real debt.  These guys usually beat earnings.  These guys also steadily grow their eps.  If we do a steady rate of return on their book value, we get a buy price at 107.  I’ll hold.