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Got milk?

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Bought some Mead Johnson Nutrition (NYSE: MJN) shares last week. I wrote about it couple months ago before its IPO. This is one of my defensive plays in this downturn. It appears to me people will not stop making babies in the recession, from my very limited observation. More importantly, after China milk powder incident last year, Mead Johnson’s Enfamil is likely to get more market share in China. Yes, China economy growth slowed quite a bit due to the slowdown of export. Yes, people are losing jobs overthere. Yes, Chinese people are cutting back on discretionary spending. But one thing won’t get cut is baby’s formula. Same argument could be made for India, and Brazil…

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