Lorne SteinbergKenvueKVUETOP PICKOct 20, 2023

A JNJ spin-off, done with a lot of debt which gives him pause. Their PE is high. Is really concerned is that JNJ also spun off the liability to the talcum powder lawsuits which KVUE now carries.

He owns JNJ. Lots of regard for KVUE, but hasn't initiated a position. Needs a period of seasoning to transition from IPO to reality. He's watching and waiting. Meaningful discount to CHD, but of similar quality.

Consumer products spinoff from Johnson & Johnson.
Would not buy at current share price (19x earnings).
Growth is slow (3-4%).
Sees better opportunities elsewhere.
Assumed product liability on products - very expensive.