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Lou Gray  

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  • CenturyLink's Dividend Reduction Diverts From Decent Performance [View article]
    A cash cow progressing in its life cycle. A cut of dividend by a quarter, however, was too sharp for such a "stable", mature company.
    Feb 20, 2013. 06:22 PM | 2 Likes Like |Link to Comment
  • Investors Are Already Pricing In Lincoln Electric's Recovery [View article]
    Lincoln Electric is not very well-known as a stock but has been the subject of several Harvard Business School cases. Impressive and differentiated operating model but I wonder how much has changed since those cases. Highly recommended readings in any event. Thanks, Stephen!
    Feb 19, 2013. 07:18 PM | 1 Like Like |Link to Comment
  • Just How Slow Are Kindle Sales? [View article]
    Really tricky to use then.

    You can also think about comments and how quickly they accumulate. But different products probably attract a different rate of comments per sale.

    Lastly, I think it is fair to point out that Kindle, just as sat navs, also has numerous versions so total sales are split across several items that rank individually.
    Feb 18, 2013. 05:17 PM | Likes Like |Link to Comment
  • Profiting From Disaster: Home Depot Targeting Ground Zero [View article]
    Thanks, Clayton. Great unique raw data.

    I think this store is too small to move the needle. However, as you say, the speed with which HD set up the new store reflects well on management. It should also generate some customer goodwill and possible some good PR.
    Feb 18, 2013. 02:46 PM | Likes Like |Link to Comment
  • Just How Slow Are Kindle Sales? [View article]
    Thanks for the "channel check", Paulo.

    What is the time period that this ranking covers? Is it last hour, last 24h, last week? The Amazon website says that the ranking is "Updated hourly" but that's different.
    Feb 18, 2013. 02:36 PM | 1 Like Like |Link to Comment
  • PepsiCo Looks Like A Relative Value In Its Sector [View article]
    Spencer, I missed your article on Senomyx but I am wondering - are Pepsi thinking of using these new sweeteners in low-calorie Pepsi straight away? They should probably test consumers' reaction in a smaller brand at first...
    Feb 18, 2013. 03:12 AM | Likes Like |Link to Comment
  • Mondelez's Sugary Valuation Could Cause Wealth Decay [View article]
    It is also important how much you paid for that fine wine...
    Feb 17, 2013. 05:45 PM | Likes Like |Link to Comment
  • The New Market Dynamic: Sell Love, Buy Hatred [View article]
    The Bloomberg video is with Hilary Kramer, chief investment officer of A&G Capital Group. Am I missing the link with Capital Group? Thanks!
    Feb 17, 2013. 05:42 PM | Likes Like |Link to Comment
  • Bond Holders Playing Hardball With Sirius XM? [View article]
    Spencer, thanks for the update on Siri. Do you have an expected outcome in this game of chicken?

    Converting bondholders will get c. 90% premium (based on your calculation in the previous post on the topic). Is it worth risking losing this premium to get a chance to improve it to, say, 95% or 100% if the company decides to improve the offer? Those that wait will need strong nerves.
    Feb 17, 2013. 03:54 PM | Likes Like |Link to Comment
  • The New Market Dynamic: Sell Love, Buy Hatred [View article]
    Paulo, thanks for the interesting perspective although I don't see the direct impact of the Fed on the relative valuations of Amazon and Apple. Also, I don't think Amazon was *that* unloved a month ago. Certainly. however, the perception of Apple changed dramatically over a few months.
    Feb 17, 2013. 03:26 PM | Likes Like |Link to Comment
  • Mondelez's Sugary Valuation Could Cause Wealth Decay [View article]
    So even with these relatively generous assumptions and you still get only to $25 per share. Thanks for the calculation - I think the implication is clear.

    Good point on the lack of economies of scale across numerous geographies, contrary to what you hear many companies say.

    We should also keep in mind that with its emerging market exposure, Mondelez deserves a higher discount rate than its peers. For example, Heinz gets only 21% of its revenue from emerging markets, while for Mondelez the number is 41%.
    Feb 16, 2013. 06:02 PM | Likes Like |Link to Comment
  • Mondelez's Sugary Valuation Could Cause Wealth Decay [View article]
    Stephen, for how long do you expect Mondelez to grow free cash flow by 15% p.a.? So essentially you are forecasting margins to improve to those of the peer group?

    On brands, if a company claims to have strong brands, it should deliver strong volumes and margins. If the profitability is consistently not there, may be the brands are not that strong.
    Feb 16, 2013. 08:02 AM | Likes Like |Link to Comment
  • ChannelAdvisor Numbers Imply Weak Q1 2013 Revenue For Amazon.com [View article]
    Growth in non-3P sales can help Amazon meet expectations although you called them out similarly previously and were correct. Let's see, for example, how AWS performs in light of what TedNewbie mentions about RAX.
    Feb 13, 2013. 06:27 PM | Likes Like |Link to Comment
  • News Corp.'s Cable Networks Continue To Drive Profitability [View article]
    Thanks, Saibus Team. Do you have an estimate on the value of the the two units? Sure, the content part would be more valuable but by how much?
    Feb 13, 2013. 04:30 PM | Likes Like |Link to Comment
  • EnteroMedics May Get Approval, But Will It Get Sales? [View article]
    Thanks!
    Feb 13, 2013. 04:20 PM | Likes Like |Link to Comment
COMMENTS STATS
119 Comments
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