That Wayne has recommended Lilly before, at higher prices, shows you that even great managers do not expect to time the market with precision. This weekend, Wayne explains his Lilly recommendation and answers a reader's question. There is, in fact, a well documented “earnings lag” wherein ample evidence has shown that the outcome of earnings surprises drifts into stocks for far longer than the announcement day. Himelsein: I will happily answer that question, and at the same time, bring in my recommendation for Eli Lilly. And that, as a matter of fact, leads me to why I re-up my recommendation on Lilly right here and right now.

Source: Forbes May 19, 2019 18:45 UTC