E It's The Big One

Swiss Novartis is developing a digital platform with its own sub, Alcon, to automate cataract surgery. Alcon used to be an American company belonging to Nestle, ACL, which we owned. A dozen years ago, in a nasty Swiss lockup, it was sold at a discount to NVS by Nestle. The board and US shareholders were left hanging out to dry by this manoeuver which violated normal stockholder rights for a Big Board listed firm. NVS got a maker of eye meds and contact lenses on the cheap.

But winning Alcon turned out to be bad for Novartis and it was put on the block to be sold to someone else, which has not been successful. So what the Swiss call Schadenfreude, joy at the troubles of others, marks our relationship with Novartis, which we rebought recently precisely in order to gain from its disposal.

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Black Widow 10 months ago Member's comment

Sounds like you've made some shrewd stock moves Vivian.

Gary Anderson 10 months ago Contributor's comment

It is amazing how a little poison from POTUS himself can inject itself into a world already reeling from Fed action. And that poison is starting to kill stuff.