The following video is part of our "Motley Fool Conversations" series, in which analyst John Reeves and advisor David Meier discuss topics across the investing world.

Over the next couple of weeks, John and David will be revisiting some calls they made on individual stocks of the Dow. Today, they're checking out Pfizer. This company is up an impressive 10% in 2012 compared with a roughly 5% gain for the Dow average as a whole.

John and David gave Pfizer an underperform earlier this year, thinking it would not beat the market over the next five years. Clearly, they have been very wrong in the short term. The company's stock has been on fire this year, as has fellow Dow component Merck. Although revenue has been contracting, the company has been doing a good job of cutting costs.  But there's still plenty of competition out there from the likes of Novartis and the ever-present Teva Pharmaceuticals. The yield has come down considerably to 3.7% since the original call, as investors have bid up the share price. David is sticking by his underperform call, though, because over the long run, he just doesn’t think the performance will be there.

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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.