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Joseph Harry  

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  • Philip Morris International And The Curious Case Of Negative Shareholder's Equity [View article]
    Thanks jdk7!
    Jul 22, 2015. 10:19 AM | 1 Like Like |Link to Comment
  • Altria's Increasing ROIC Leaves Me Less Concerned About Its Increasing Debt Levels [View article]
    Here you go jdk7,

    http://seekingalpha.co...

    I hope you find it useful!
    Jul 21, 2015. 12:08 PM | Likes Like |Link to Comment
  • Philip Morris International And The Curious Case Of Negative Shareholder's Equity [View article]
    I agree with Scenic Dr,

    Thanks for sharing your experience at the company Retired One, it's always nice to get some insight from someone who's actually worked for the company.
    Jul 21, 2015. 11:34 AM | 2 Likes Like |Link to Comment
  • Philip Morris International And The Curious Case Of Negative Shareholder's Equity [View article]
    Matthew,

    I agree that buybacks and currency impacts are largely responsible, and the company generates so much free cash flow that it's not that concerning. But I wouldn't say talking about it is meaningless, as I haven't seen anyone else bring it up and I don't think it's necessarily a good thing, none of the other major players have an equity deficit, for instance. But the PPE example is a good point that I didn't consider, either.

    Thanks for adding to the discussion.

    -JH
    Jul 21, 2015. 10:26 AM | 2 Likes Like |Link to Comment
  • Altria's Increasing ROIC Leaves Me Less Concerned About Its Increasing Debt Levels [View article]
    Best of luck to you too Retired One! Dollar cost averaging into a fine company such as MO over a period of years is definitely a solid strategy.
    Jul 20, 2015. 03:23 PM | 2 Likes Like |Link to Comment
  • Altria's Increasing ROIC Leaves Me Less Concerned About Its Increasing Debt Levels [View article]
    "If your argument is that the General Market is overvalued, so therefore MO is overvalued, that argument has been used for the last 5 years in this "Most Hated of Bull Markets" and you would have missed all the gains in not only MO, but also all other stocks."

    That's not my argument, my argument (per my original comment) is that MO is trading at the higher range of where it has historically. It's not really growing sales either, so gains are primarily from an expanding multiple. As far as missing out, I gave you a link to the article I wrote at the end of 2013 recommending shares when they were attractively priced.

    Me personally, I'm averaged in at around $36/share, and I don't plan on selling because Altria is a great company to partner with for the long term, in my opinion. At the same time, I wouldn't be buying at today's prices, either.

    If you recommend buying shares now, then that's your own opinion and maybe you can write an article and submit it to Seeking Alpha outlining your investment thesis. That way you can explain in detail why shares offer value at current levels. I will be an unbiased reader and maybe you can sway my opinion in the other direction. Maybe you're right and I'm wrong, but that's what makes a market.

    Happy investing,
    JH
    Jul 20, 2015. 01:06 PM | 1 Like Like |Link to Comment
  • Altria's Increasing ROIC Leaves Me Less Concerned About Its Increasing Debt Levels [View article]
    Thanks for reading jdk7,

    I took it into consideration and now have an article on PM in the pipeline.
    Jul 20, 2015. 02:23 AM | 1 Like Like |Link to Comment
  • Altria's Increasing ROIC Leaves Me Less Concerned About Its Increasing Debt Levels [View article]
    "To the Author: If you would not buy at 49$, I fully believe you would not buy at 53.30$, so at what EXACT PRICE would you "buy" and when do you think this time period will ensue. And if this time never comes, what consolation will you offer to your readers? I have read article after article, for the last 35 years, claiming that MO is overvalued, wait and buy cheaper."

    -- I'd recommend paying 15-16 times earnings. It might be awhile until that day comes, but at 20 times earnings versus that historical 15-16 times earnings, you're not getting a good deal, especially since that's close to the highest P/E the company has seen since it spun off PMI. I've never said MO was overvalued until recently, in fact, I advocated buying shares at the end of 2013 in an article entitled, "Altria: A Great Dividend At A Good Price". Back then it was trading at 14-15 times earnings and yielding over 5%. That's when I was backing up the truck, and MO is still my fourth largest position.

    http://bit.ly/1SwrLZu

    I can't find any examples that said it was overvalued going back 35 years, maybe you can provide me with some links?

    "The average S & P stock trades at a 22 multiple, so MO having a historic multiple of 16, only tells me that the stock is still undervalued and won't be "fairly valued" until it reaches almost 62$."

    ---Yes, and the market's historical average P/E is 15-16 as well, so basically MO is overvalued in an arguably overvalued market.
    Jul 20, 2015. 12:49 AM | 1 Like Like |Link to Comment
  • Evaluating Emerson Electric's Earnings Quality And ROE [View article]
    Hi tinmantt,

    From my understanding, it will be a "tax-free distribution to shareholders", where you'll get shares of the new company.

    http://read.bi/1TD6sIc


    --JH
    Jul 15, 2015. 04:22 PM | Likes Like |Link to Comment
  • Looking At Target, Ex-Canada [View article]
    Thanks for reading Thenutcraker,

    I've covered WMT in the past as well if you're interested:

    http://bit.ly/1V4n9hb


    --JH
    Jul 15, 2015. 04:16 PM | Likes Like |Link to Comment
  • Justifying My Position In Johnson & Johnson [View article]
    Thanks for reading rosenose, I like that analogy.
    Jul 14, 2015. 01:02 PM | Likes Like |Link to Comment
  • Justifying My Position In Johnson & Johnson [View article]
    I'm tempted to buy some more here, but I also want to establish a new position in EMR too. Tough decision!
    -JH
    Jul 14, 2015. 01:01 PM | Likes Like |Link to Comment
  • Evaluating Emerson Electric's Earnings Quality And ROE [View article]
    Thanks for reading and the kind words rosenose!
    Jul 14, 2015. 11:07 AM | Likes Like |Link to Comment
  • Evaluating Emerson Electric's Earnings Quality And ROE [View article]
    Thanks Dividend Sleuth,

    I really enjoyed your EMR article!
    Jul 14, 2015. 01:41 AM | 1 Like Like |Link to Comment
  • Evaluating Emerson Electric's Earnings Quality And ROE [View article]
    Thanks Paladin306!
    Jul 13, 2015. 12:24 PM | 2 Likes Like |Link to Comment
COMMENTS STATS
273 Comments
297 Likes