FLIR and CME update

So far this week I have bought more FLIR and more CME -- just small increments to take advantage of the pull backs. In FLIR's case, its STILL less than 1% of my portfolio so we are talking baby steps here.

My largest positions are 10% -- those are reserved for Asia and AB (money management) -- next are a few in the 3-4% range including UEPS, TSRA, CME, LH etc. I would like to get FLIR closer to 3-4% but its going to be hard -- it means selling shares in my existng holdings. Microsoft will only provide 1-1.5% of that so I would still need another 1% or so from somewhere else. Not sure where yet -- maybe take gains in a stock that worked like UEPS or TSRA or LH or MDT if it gets above $60.

Anyway, more CME because its a monopoly with strong growth and potential for rising estimates and the stock has been flat for awhile. I am thinking $20 for 2008 in terms of earnings is possible, which gives you a 27X kind of PE at today's 540-550 price. For a 60+% margin business with tons of free cash flow, no real capital requirements and lots of potential growth this is a bargain.