Johnson & Johnson (NYSE:JNJ), Pfizer (NYSE:PFE) and Merck & Co. (NYSE:MRK) comprise 10% of my portfolio. I briefly highlighted JNJ in last month's portfolio review. I described why Pfizer is part of the portfolio in my most recent article. PFE has grown through blockbuster mergers. Merck, however, has grown through "bolt-on" acquisitions.
Merck: My First Major Blue Chip
I developed an admiration for Merck shortly after I began studying stocks in 1982. In those early years I never seriously considered a purchase because Merck seemed too "expensive."
