Perhaps they were worried about: – The wars raging in the Middle East and Europe,– An imminent recession– The seasonally tough time of year, And knew they could get 5% in a money market fund so thought, Why bother with all this volatility? Well I’ll tell you why they should “bother” Because there aren’t any … Read on
and it doesn’t even do AI… But that’s exactly what happened when Mars paid an “inter-galactic” 170% premium for Hotel Chocolat A “Bounty” for all owners and causing any short sellers to get their “Snickers” in a “Twix” Sorry Most people want a catalyst before acting, so now that we’ve had a catalyst, let’s act … Read on
Think about it how can we expect anything to be sustainable over the long term, when we live in a dynamic and competitive world? Very few companies grow earnings sustainably, even winners like Microsoft experienced years of negative growth (2013 – 2016) So isn’t it obvious, that when companies talk of all this “long-term sustainable … Read on
What makes you think that? You’re overweight Consumer Discretionary stocks Oh, please be very careful about drawing conclusions from those broad sector classifications, I think their usefulness at a global level is very limited How so? Well take the MSCI World Consumer Discretionary Index for example If you look at the Top 10 on that … Read on
And that means using Enterprise Value A Price Earnings multiple tells you how many years it would take to recoup your investment if earnings are stable and all paid out as dividends Pretend you own a business that earns 100 a year and you sell it to me for 500 The PE of 5 means … Read on
Call it a “roole” Yahoo was once worth $125bn, declined a $45bn buyout offer from Microsoft in 2008, and sold to Verizon for $4bn 10 years later Few shareholders shouted “Yahoo” The wheels and chassis have seemingly fallen off Cazoo In Sep ‘21 it was worth $7bn but has since fallen 99.8% to $13m today, … Read on
The idea of being a long-term buy-and-hold investor is attractive – it doesn’t require making many decisions, and decisions are often stressful, especially those about your financial future. But the unfortunate truth is that markets change with time. If they didn’t, we’d all still own railroads and steel companies. We must therefore make difficult decisions … Read on
“…if management steal less money than they stole last year” He was talking about Russian oil giant, Gazprom, at a conference I attended back in 2004/5 But I wonder how this differs from the excessive executive compensation I see in the US Yes, I know it’s not “stealing” because Exec Comp plans are derived by … Read on
A £200 portfolio with a fair value of £300 and a potential return of 50% The next day, company A announces fabulous results and rallies 40% to a price of £140 Meanwhile, Company B’s competitor announces disappointing results and drags B down 20% to £80 Resulting in a portfolio worth £220 (140 + 80) with … Read on
Or “The 7 habits of AVERAGELY successful people” By Stephen Covey You haven’t? Of course not, HIGHLY successful people want GREAT, not AVERAGE Who doesn’t want to be a WONDERFUL partner, a SUPERB friend, a FANTASTIC parent, or an AMAZING co-worker at a GREAT company? All of us, right? So why are we happy to … Read on
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