We think that the rhetoric is going to be fairly negative and that is going to push prices of drug companies modestly lower over the short term. That's a very good time to be adding to positions. We think a year or two from now, not a lot is going to change and the drug companies are good growth businesses at more reasonable prices.
They've grown earnings at about 15 percent a year for the last decade, ... They're always gaining market share. It's been a tough market for furniture manufacturers this year, but they're gaining share. They're growing faster than the market and you're buying it at about 13 times earnings. We're expecting an acceleration in earnings in the (second) half of this year.
It's very important to remember that with the Dow at 8,000 -- with the market at about 22 or 23 times earnings -- there's just very little margin for safety. If anything in the economy, anything with inflation, anything with a world event goes wrong, you're going to see more downside than you normally would.