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Lou Gray

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  • A Retrospective On An Iconic Brand [View article]
    Putting product preferences aside, investing in Sara Lee has been similar to investing in an actively managed consumer packaged goods fund. A very successful fund though.
    Mar 30 02:35 PM | Likes Like |Link to Comment
  • Chipmos: Shares Have Over 100% Upside And Near-Term Catalysts [View article]
    Thanks for the great article. Could you elaborate on why you think the company trades at just 1.5x EV/EBITDA? You don't get such a low valuation without any problems, potential or actual.

    For example, why did EBITDA slightly fall in 2012 although demand grew?

    The positives you listed are rather convincing but we should be aware of any potential risks even in the best story. Thanks.
    Mar 29 06:43 AM | 2 Likes Like |Link to Comment
  • Pepsi: An Undervalued Consumer Giant [View article]
    I agree, Michael. I think the wide availability of P/S seems to give it some perceived credibility even though it is not a useful ratio.
    Mar 29 06:21 AM | Likes Like |Link to Comment
  • The Phillips 66 Partners' IPO [View article]
    Michael, you can find the S-1 at the link below. The filing also has some further information on the Hartford Connector asset. I hope that is what you are looking for.
    Mar 28 09:45 AM | 1 Like Like |Link to Comment
  • Best Buy: Look Out Below ... Accelerated Free Fall Looming [View article]
    Thanks for the case for shorting the stock. The buyout was indeed a major driver of the stock but is now gone and all the other problems remain.

    Could you elaborate on how you reached to $12 as a fair value for Best Buy?
    Mar 28 09:32 AM | 2 Likes Like |Link to Comment
  • 14.5% Dividend Payer KKR Quadrupled Its Economic Net Income In 2012 - More Growth Ahead [View article]
    Thanks for the article, David. I think we should add that both earnings and dividends will be highly cyclical, good near-term outlook notwithstanding.
    Mar 28 09:04 AM | 2 Likes Like |Link to Comment
  • Oracle: High Expectations... Perhaps Too High [View article]
    The earnings miss was clearly unexpected but do you think of it? Was a one-off mismanagement of sales or a fundamental problem with the company?
    Mar 28 06:19 AM | Likes Like |Link to Comment
  • Pepsi: An Undervalued Consumer Giant [View article]
    Timothy, when using the P/S ratio, how do you take into account the changing level of debt that Pepsi uses?
    Mar 28 06:11 AM | 1 Like Like |Link to Comment
  • Guess? Outlook Should Cause Certain Worry [View article]
    A weak business in a competitive industry exposed to Europe at 14x PE? It is hard to get excited, indeed.
    Mar 22 06:41 PM | Likes Like |Link to Comment
  • Market Vectors Launches Hedged Junk Bond ETF [View article]
    Thanks for the overview, Tom. What do you think about that expense ratio? The First Trust fund that you link to has 1.19% expense ratio and is actively managed. It would be great to have comparison of the three funds.
    Mar 22 06:26 PM | Likes Like |Link to Comment
  • The 'Amazon Law' Is The Signal To Sell Far Overpriced Amazon [View article]
    The tax/price hike on Amazon will let us see how much customers value other selling points such as wide range and fast shipping. With the infrastructure build-out, Amazon has these advantages for now but they might be not be very valuable for customers.
    Mar 22 06:12 PM | Likes Like |Link to Comment
  • TripAdvisor: The Future Travel Industry Online Advertising King [View article]
    James, great and very useful in-depth description and analysis. Such analysis should be the foundation for any sound investment decision.

    I just want to point out that Priceline, and not Expedia, acquired Kayak. This is a minor detail of course and your point stands.
    Mar 20 08:37 PM | 1 Like Like |Link to Comment
  • Altria Vs. Philip Morris: Is Marlboro A Sure Shot? [View article]
    Timing Best Buy, thanks for the article. Alternatively to choosing one of the stocks, you could own both and achieve maximum geographic diversification.
    Mar 19 04:09 AM | Likes Like |Link to Comment
  • Dell: Take The Premium And Run [View article]
    For the people waiting for a higher bid, how much higher do you think anyone can go? Is 5-10% higher than current levels worth the risk of any deal falling apart?
    Mar 18 07:18 PM | Likes Like |Link to Comment
  • Despite Dividend Cut, Exelon Looks Undervalued [View article]
    Thanks for the valuation but could you discuss a bit what caused the drop in profit from 2009-2011 to 2012-2013?
    Mar 18 05:42 PM | Likes Like |Link to Comment