Doug McHugh

Doug McHugh
Contributor since: 2013
Excellent article!! It seems that Panera will employ leading edge technology, as it applies to the food biz, in its transition to 2.0. Or will it be bleeding edge? Time will tell.
Wow...pity the fool who says anything negative about AAPL. People get emotional.
Thanks for the comment, Phil.
Mking30, you already understand the basic mechanics of a split, and there really isn't much more to it. Sometimes companies split to encourage trading activity - people (for no logical reason) have an easier time buying 100 shares for $50 each than buying 50 shares for $100 each. Also, a split is generally viewed as a bullish signal that the directors expect the stock to go up in the near term. But in the end, as you state, it really doesn't matter with regard to the value of what you are holding or buying. It's mostly about perceptions.
No....I haven't heard that.
Thanks for the comment, scchan. I think your point is that entry into the restaurant industry is relatively easy. My point in the article is that getting into the Panera Bread franchise business, as compared to getting into some other franchises, is relatively difficult.
Thanks, QTR. I can't disagree with "cheeky." Happy trading.
Thanks, Rob. You've probably seen the recent support around 155. I think the next catalyst will be earnings in May.
Mydweigh, if you think UA probably has a bright future, we agree. But I would stop short of calling it a sure thing. I've invested in a few "sure things" over the years that weren't. Thanks for your comment.
SoCal88, thanks for summing up some of the "intangible" value of the company.
soleprop, you've got me thinking...what if there was a Superbowl commercial for military surplus?...
Seriously, your point is well-taken. A huge part of success in chasing the discretionary dollar is in effective marketing. And sometimes this branding enables a company to charge more for their products. But some people will not pay more for "fluff."
Thanks for your comment.
Thanks for your comment, Phil. I agree with your assessment of UA's strong brand.
In the short run, having a product that's new and exciting will get you far. In the long run, quality and value take the front seat.
It's time for Tim Cook to share at least a part of his secret plan for 2013. Because increasingly, the market is believing he doesn't have one.
Long AAPL.
Ryan, I agree. I wonder how many people think inflation is "under control" because the government is reporting it at 2-3%. This while they're filling their tanks with $3.75/gal gas that was $1.85/gal a few years ago. Common sense!
How many men out there plan on showing up at the gym next year sporting Lululemon garb? Anyone?
I'm not being sexist. I just don't see it. I think UA has a much broader appeal to different market segments.
Excellent article, Mr. Way. Entertaining and informative.
So GS is, in effect, calling for ZERO dollar inflation from now until the end of 2014.
Right.
Although I suppose it's inevitable, I don't see the cloud-based product as a boon for consumers. Right now, I buy an Office upgrade when I want to - maybe each time, or every other time, that I buy a new computer. (Often there's a "bundle deal" involved.) I don't mind the thought of not having my own copy of Office on my own CD, but I do mind the thought of sending money to Microsoft every month for the rest of my life, if I want to keep using the Excel spreadsheet I built 10 years ago. And how will these cloud access rates be determined? What if Microsoft feels like doubling them every now and then?
I understand that cloud computing facilitates inter-device functions, but as a consumer I don't like the trade-off.
It will take more than one or two championships for LeBron James to shed that circus clown image he created for himself in the summer of 2010. Michael Jordan sold product not only because of his flash and dominance on the court, but because he is very likeable. Same goes for Kobe Bryant.
(No, I'm not from Cleveland.)
Kofi, is the point of your first paragraph that Midwesterners are stupid? I'll remember that when I'm bailing out New York and California with my Federal taxes.
Great comment, sdt. Thanks for the insights.
"No matter how much we love to hate Windows, it is still ingrained in our daily lives."
I think MSFT and the PC world have overplayed this hand. My personal experience is that PC hardware and software, although much more capable, are much less reliable than they were 10 years ago. Unacceptable. I'm going to give a Mac a spin the next time around.
I don't know one person who's tired of their Mac and planning a switch to PCs.
Long AAPL.
Brad, I like your article but I'm not clear on something. Isn't the price of beef an input cost to MCD? And as such, doesn't an increase in beef prices increase their Cost of Goods, and therefore squeeze their profit margins?
Or are you saying that they'll be able to bump up the price of their burgers to more than compensate for the higher prices they will pay for beef to make those burgers?
Your analysis is that PCLN is due for a pullback because it has been on a serious run lately. Is that it?
Where is that area where you used to live? Just curious.
I don't recall the government bailing out any airlines, and they're still around, albeit consolidated. And much leaner.
That's the market at work.
I think inventory as a percentage of sales is a more useful metric than inventory as a percentage of current assets.
Just my 2 cents.
A point of clarification. The Under Armour multiple of 29 mentioned in the article is the forward P/E (fye Dec 31, 2013). The trailing twelve month P/E is more like 48.
The reason I don't "appreciate" MSFT is that aside from a rise during the .com bubble and a brief fall during the great recession, it's been trading in the same $10 range for the past 14 years.