Investors tend to turn to big blue-chip dividend payers at times of market volatility, and in times past the steady earnings of pharma giants GlaxoSmithKline (LSE: GSK) and AstraZeneca (LSE: AZN) have been a particular source of comfort when the market is falling. But in the recent lurch lower, London’s biggest drugs companies did just as badly as the FTSE 100. How come?
Why Have GlaxoSmithKline plc And AstraZeneca plc Followed The FTSE 100 Down?
VIDEO: One Fool puts GlaxoSmithKline plc (LON:GSK) and AstraZeneca plc (LON:AZN) under the spotlight.
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Published Owain is a magpie of the investing world -- and not because he gets into a flap. Almost any style of investing might suit him, depending on the bigger picture, and he's held all sorts of companies. Paraphrasing Keynes, he says: “When the market changes, I change my mind -- what do you do?”
That said, Owain is usually a buyer of equities, where he prefers lightly geared, modestly rated companies, and is increasingly on the lookout for Buffett-style intangible quality. He aspires to buy-and-hold: his best investment ideas are worth much more than he sold them for. Then again, his worst investment went bust due to management fraud!
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