lowering my ACB on Walgreen

I took the opportunity today to lower my Adjusted Cost Base (ACB) on U.S. drugstore chain, Walgreen Company (WAG). Long time readers of the moneygardener have likely read posts about my accumulating shares of WAG over the past year. Today's purchase was just another wrung on the ladder, decreasing the overall cost of my equity stake in Walgreen.

The thesis behind holding shares in Walgreen long term is simple:

• America is getting older in a big way, with this comes the need for drugs and convenience
• Walgreen has a history of strong growth and dominates the market along with CVS Caremark (Walgreen currently trades at a P/E of 17x while CVS changes hands for 21x)
• The Canadian dollar is nearly at par; U.S. retail sales sentiment is extremely low...