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Cory Renauer  

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  • Executive Compensation At Fastenal Is Modest And Transparent [View article]
    Thanks for your two cents,

    I considered adding CEO TAC / NEO TAC at first, but I didn't think anyone would be interested. I've made a note to include it in the future.

    Thanks for the feedback,
    Jun 26, 2015. 12:14 PM | Likes Like |Link to Comment
  • Colgate-Palmolive: How 6.25% Core Growth Could Lead To A 9.25% Total Return [View article]
    Thanks you two,

    It means a lot.

    Jun 26, 2015. 10:02 AM | Likes Like |Link to Comment
  • Caterpillar Inc.: Why Its Executive Compensation Plan Incensed Investors [View article]
    Thank you for the lengthy comments Buysider,

    Can you show us figures that explain how CAT's OPACC target went from $2.079 billion in 2013 to just $20 million last year?

    Jun 16, 2015. 03:54 PM | Likes Like |Link to Comment
  • Caterpillar Inc.: Why Its Executive Compensation Plan Incensed Investors [View article]
    The OPACC target fell from more than $2 billion to $20 million in a single year. Management could have clearly laid out the calculations that resulted in such a dramatic swing in the proxy statement, but it didn't. That's why I'm unhappy with it.

    When managements want to be clear they can be clear. If CAT could boast about how well its metrics aligned management's interests with shareholders it would boast. Instead management chose to obfuscate. Maybe OPACC truly is a great criteria. But, management chose to obfuscate, so I must assume OPACC targets are not designed with shareholders best interests in mind.

    Call me crazy, but I think if you want to incentivise 'operating profit' you should use 'operating profit' as your metric.
    Jun 15, 2015. 09:59 AM | 4 Likes Like |Link to Comment
  • Caterpillar: Investors Get Another Raise From This Dividend Contender [View article]
    An article of mine concerning CAT's executive compensation issues is live now for PRO users. It will become available for all SA users following the standard 24-hour embargo (sometime tomorrow).
    Jun 14, 2015. 12:08 PM | Likes Like |Link to Comment
  • T. Rowe Price: How 11.2% Core Growth Leads To A 14.35% Total Return [View article]
    It's my pleasure rhiannion.
    Jun 9, 2015. 12:49 PM | Likes Like |Link to Comment
  • T. Rowe Price: How 11.2% Core Growth Leads To A 14.35% Total Return [View article]
    Thank you for the thoughtful comment LHP4.

    "Core growth of 11.2% is quite unusual for a company like T. Rowe" could read: It's unusual for established dividend paying companies with more than 25 consecutive years of payment increases to exhibit double digit growth of its core business.

    As for reasonably expecting the unusual, you've got me there. I don't think it's entirely unreasonable to project a ten year growth rate forward when top and bottom lines are trending upwards. At the same time, 11.2% is awfully impressive.

    I didn't go in depth with projections because the main purpose of this article is to illustrate how a profitable company can provide returns above its core growth rate. It is not a full blown attempt to estimate TROW's core growth rate going forward. That will come later.
    Jun 9, 2015. 12:48 PM | Likes Like |Link to Comment
  • May 2015 Dividend Picks [View instapost]
    Nice work kpbarbee,

    Glad to see my new favorite financial firm TROW made it into your shortlist.
    Jun 7, 2015. 08:22 AM | 1 Like Like |Link to Comment
  • How Texas Instruments Could Make A Great Addition To Your Dividend Growth Portfolio [View article]
    It's my pleasure rhiannion. Glad you enjoyed it.

    Jun 5, 2015. 05:02 PM | Likes Like |Link to Comment
  • Moaty Chowder  [View instapost]
    Just being lazy. I'm used to the format of 10-Q and 10-K filings. More often than not I find reporting from ex-US companies... frustrating.

    The best advice I've ever taken for reading financial statements is that when a company wants to be clear it can be clear. If it wants to obfuscate, it can obfuscate.

    In my experience ex-US companies excel at obfuscation. RBA is a pleasant exception.
    May 28, 2015. 09:48 AM | Likes Like |Link to Comment
  • Moaty Chowder  [View instapost]
    Thank you Larry,
    As far as miners go I'm sure you could do far worse than BHP. I'm afraid the lack of pricing power common to all basic materials producers will keep it off this list entirely.
    May 28, 2015. 09:38 AM | Likes Like |Link to Comment
  • Moaty Chowder  [View instapost]
    Thanks Sengle. I'm afraid spellcheck has ruined me.
    May 28, 2015. 09:24 AM | Likes Like |Link to Comment
  • Moaty Chowder  [View instapost]
    Glad to hear it Greg. Thank you.
    May 20, 2015. 03:43 PM | Likes Like |Link to Comment
  • Moaty Chowder  [View instapost]
    Thank you for the kind compliments AhCaramba2,
    The answer to your question is fairly simple. The due diligence process for the soon to be created Moaty Chowder portfolio will be far more comprehensive than the rankings above.
    The purpose of the rankings is to help me decide which companies to deserve the most attention.
    In particular I still need to derive a fair value for these stocks. I won't add them to a portfolio until they're fairly priced.
    I hope this answers your question. If you would like to know more just drop me a message.
    May 20, 2015. 03:42 PM | 1 Like Like |Link to Comment
  • How Wal-Mart's Size Earns It A Place On Your Dividend Growth Watchlist [View article]
    I believe Jack Reacher's quote: "Everybody has a plan until they get punched in the face," is what you had in mind.
    May 20, 2015. 10:54 AM | Likes Like |Link to Comment