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A Reliable Sector
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The sector is financial services and the company is Manulife Financial. Many times people are always talking about the stocks that are currently flying high, and there's nothing wrong with that. It's simply human nature to get excited about those stocks and their magnificent gains. Almost all the time though, I mention to people that they cannot go wrong over time with also having some financial services stocks in their portfolio. Companies like the big banks tend to perform very well over time even though they may have the odd bad year. They're steady, they're always growing, they pay a decent dividend and they usually increase their dividend over time. On April 24, 2003 at $26.60 (U.S) a share we recommended to our members to purchase Manulife Financial. Manulife is an insurance company that is growing nicely and seems to want to continue to do so. Their recent purchase of John Hancock is proof of that. At their current price of $36.24 that represents a gain of 36%. Recently Manulife announced earnings that beat expectations and also upped their guidance on future earnings. News like that certainly doesn't make us want to sell. Manulife began trading at $12 (U.S) on the New York stock exchange in the beginning of 2000. It had an excellent initial run up and then entered a trading range for one year before continuing it's recent run up. At it's current price it has tripled since its IPO. Not bad considering two and a half of those were a horrendous bear market. At the same time, Manulife the company, shows no sign of slowing down in their quest for growth and steady, decent return. Manulife Financial also trades on the Toronto Stock Exchange. Success in your investing;
Jim Mair, President, Research Stock Spies Inc. http://www.stockspies.com
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