Tuesday, March 6, 2012

Stock Sale: Aflac (AFL)

The Dow dropped just over 200 points on Tuesday, giving Wall Street its worst day in three months.  This drop was attributed to renewed fears of a disorderly default in Greece, concerns that China's slowdown would affect global growth, and the belief that the market is due for a pull-back after a hot start to the year.

We've seen these days before, many many times before really.  They had been quite frequent the past few years, but this is the first one I can recall in 2012.  I think these are fantastic buying opportunities.  When great stocks go on sale because of general, macro economic reasons that have little or no affect on that specific stock, its time to act.  While stocks were on a run since the beginning of the year I have been putting money into my account waiting for an opportunity to add to existing positions or initiate a position in a new stock.  Today was that opportunity.

On January 25 I posted an analysis of Aflac, Inc (AFL). My analysis was very favorable at that time and I mentioned I would like to add to my position.  Today AFL dropped nearly 4%, likely due to the Greece default concerns.  I took advantage of the drop and was happy to add shares to my portfolio.  As I stated in my analysis, I feel the worst is behind AFL and there is room for significant dividend growth in the future.

I am long AFL

Tags: [AFL]

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