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Right, so the market took a beating yesterday as reported above. The fall in the Nasdaq of over 2.2% smacked a number of our portfolio holdings. However, Johnson & Johnson rose by 2.6% to reach a new all-time high of $183 a share. So far this year J&J is up 6.5%, whereas the S&P is down 6% and the Nasdaq is down 11.2%. J&J has outperformed the Nasdaq by 17.7% in 3 months. Sometimes it pays to be boring!
Johnson & Johnson has underperformed our model portfolio over the last five years, but it's stood strong when times get tough. That's why it is in your portfolio. Its 2.5% dividend yield is also very valuable. J&J deserves its solid reputation, so keep this one for the rainy days.
