A Most Prudent Portfolio: Two Acts of Investment

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The future, gentle reader, is a stage upon which fortunes are made and lost. To predict its unfolding is the province of fools, yet to prepare for it, a matter of some sense. Five years hence – 2031 – will find humanity still afflicted by the usual frailties and necessities: a demand for health, and a regrettable reliance upon energy. Thus, I present two companies, not as miracles of foresight, but as reasonably sound wagers against the whims of time – and, dare I say, the follies of mankind.

Act I: AbbVie – The Physician’s Purse

AbbVie (ABBV 1.78%), a name weighty with the promise of pharmaceutical relief, ranks amongst the largest of its kind. Twelve remedies – or, as some might call them, profitable distractions from mortality – flow from its laboratories, alongside a host of lesser, yet still lucrative, elixirs. It is a kingdom built upon the ailments of man, and, as such, possesses a certain…stability.

Observe, if you will, the aging populations of the United States and beyond. A most predictable phenomenon, is it not? As years accumulate, so too do the afflictions of the body – the auto-immune disorders, the neurological failings, the ever-present specter of cancer. AbbVie, with a shrewdness worthy of a courtier, has positioned itself to profit handsomely from these inevitable woes. Its focus on immunology, neuroscience, and oncology is not mere science, but a keen understanding of human frailty.

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The company demonstrates a remarkable capacity for both innovation and acquisition – a talent for discovering or absorbing those who possess the knowledge it lacks. The loss of patent exclusivity for Humira, a setback that might have crippled a lesser enterprise, was met with a swift and resourceful response. A performance worthy of applause, though one suspects the applause is directed towards the company’s coffers.

For those who seek a regular income from their investments – a steady drip of revenue to soothe the anxieties of age – AbbVie offers a dividend most appealing. It is a member of the esteemed ‘Dividend Kings’ – a lineage of companies that have rewarded their shareholders with increasing generosity for half a century. A yield of approximately 3% is a modest return, perhaps, but one built upon a foundation of… shall we say, necessary demand.

Act II: Enbridge – The Pipeline’s Promise

Now, let us turn our attention to a more earthly concern: energy. One might ask, will the United States consume more oil and gas in the years to come, or less? To wager on the latter is to indulge in a most fanciful delusion. Despite the pronouncements of prophets and the dreams of inventors, the world remains stubbornly dependent upon these… crude necessities.

Enbridge (ENB 1.07%) is uniquely positioned to benefit from this unyielding reality. Its pipelines convey approximately 30% of the crude oil produced in North America and 20% of the natural gas consumed in the United States. Furthermore, it is the largest natural gas utility in the nation – a veritable network of subterranean veins supplying the lifeblood of industry and comfort. A truly impressive infrastructure, though one built upon a resource that will, inevitably, diminish.

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Management has identified some $50 billion in potential growth opportunities through 2030. They foresee a robust demand for natural gas, fueled by industrial expansion and the insatiable appetite of data centers. These projections, while optimistic, are not entirely unfounded. Enbridge’s executive team has, for twenty consecutive years, met or exceeded its financial guidance – a feat of consistency that suggests a competence bordering on… calculation.

For the income-seeking investor, Enbridge offers a dividend yield of 5.4% – a considerably more generous offering than AbbVie. The company has increased its dividend for thirty-one consecutive years – a testament to its financial stability and, perhaps, a shrewd understanding of human greed. They project average annual earnings and distributable cash flow growth of around 5% beyond 2026 – a promise that, while not guaranteed, is certainly… appealing.

Thus, we have two acts presented. Whether these companies will flourish or falter remains to be seen. But, as any seasoned observer of the human comedy knows, it is not the outcome that matters, but the performance itself.

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2026-02-19 11:52