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Matthew Pixa

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  • Just One Stock: Expansion, Higher Margins Ahead for Solid, Busy Big-Box Performer Costco [View article]
    Windsun33,

    I think the comment from Contheon was in reference to credit cards. Yes, one can use any debit card but the only credit cards currently accepted are Amex.

    Thanks!
    Jun 12 10:22 AM | Likes Like |Link to Comment
  • Just One Stock: Expansion, Higher Margins Ahead for Solid, Busy Big-Box Performer Costco [View article]
    PVizzle,

    Thanks for the comment. Perhaps it wasn't optimally worded but the intent was to point out that WMT had same-store sales declines while COST and perhaps a few others haven't.
    The point on foreign markets is simply an observation that their international segment has trended stronger than domestic and is showing higher operating margins.

    Thanks,

    -Matt
    Jun 11 01:53 PM | Likes Like |Link to Comment
  • Just One Stock: Expansion, Higher Margins Ahead for Solid, Busy Big-Box Performer Costco [View article]
    Thanks for the good words John. Any mother-in-law pick better do well!
    The next couple of years should be interesting for them with expansion plans etc.

    Best regards,

    -Matt
    Jun 11 01:41 PM | Likes Like |Link to Comment
  • Just One Stock: Expansion, Higher Margins Ahead for Solid, Busy Big-Box Performer Costco [View article]
    Thanks for your comments.
    1. I'm not sure if being open all day or simply earlier is necessarily a good thing. I'm up daily at 4:30am but don't find it hampers my Costco trips.
    2. Agree...long lines but efficient with regard to employee/sales. They do move along pretty quick considering the volume.
    3. True...but this is so for most any warehouse/hyper market store. I go there for bulk buys not for specialized or niche products.
    4. Yep- only Amex is accepted. Not really a show stopper for me or anyone else apparently.
    Jun 11 01:33 PM | 1 Like Like |Link to Comment
  • Just One Stock: Expansion, Higher Margins Ahead for Solid, Busy Big-Box Performer Costco [View article]
    Thanks Asif,

    I read your article and enjoyed it. I'll look forward to others as well.

    Best regards,

    -Matt
    Jun 11 01:13 PM | Likes Like |Link to Comment
  • Just One Stock: Expansion, Higher Margins Ahead for Solid, Busy Big-Box Performer Costco [View article]
    Right...I see your point with regard to yield but as you might imagine shareholders of COST received more than just a 1.20% dividend over the last year. The stock appreciated about 40% and handily outperformed the broad markets. (or commercial real estate but your background is in that space so I can't confirm that as well as you could)
    Thanks,
    -Matt
    Jun 11 01:12 PM | Likes Like |Link to Comment
  • Daily State of the Markets: Did Anything Change? [View article]
    David,

    Excellent points and analysis. Thank you for this article and I couldn't agree more with your thoughts.

    -Matt
    Jun 10 10:49 AM | Likes Like |Link to Comment
  • Just One Stock: Expansion, Higher Margins Ahead for Solid, Busy Big-Box Performer Costco [View article]
    GotLife,

    I hear what you're saying...Your experience is very much like what I've seen at Home Depot versus Lowe's. Several years ago during a remodel I would blow my top with customer service horror stories and promptly march into the next store. I would be satisfied with their paint department and then livid with some lazy teenager in the plumbing department who wasted 2 days of my life ordering the wrong parts. Same thing, different department or city.

    In other words, I think as a consumer one typically gets a fairly consistent feel for solid service and value when it's there. I've had my tires replaced there multiple times and they've been excellent to me. Maybe they'll blow it next time but up until now,,,that place is golden and I wouldn't go anywhere else that matches up to the convenience, speed, and overall quality/value.

    Back to the stock though...yes...the P/E trades at a premium and we actually have yet to open full positions in the stock although that's more of an overall market concern that we have.
    In sum, I believe it will continue to outperform relative to others and with regard to trading at higher multiples...it's beat the tar out of the S&P 500 over 6 months, 1 year, 5 years, 10 etc.
    Jun 10 10:33 AM | 1 Like Like |Link to Comment
  • Just One Stock: Expansion, Higher Margins Ahead for Solid, Busy Big-Box Performer Costco [View article]
    Asif,

    I would agree. With such high volume business there will obviously always someone who will be disgruntled but on the whole this company has fantastic service. You mention the return policy and I've even heard of them taking a mattress back! (obviously not to resell but just to honor their commitment to quality)
    To you last comment, as a consumer, sometimes my only gripe is that it's hard to find parking! Not a bad problem to have though...
    Jun 10 10:14 AM | Likes Like |Link to Comment
  • Just One Stock: Expansion, Higher Margins Ahead for Solid, Busy Big-Box Performer Costco [View article]
    Brad,

    Thanks for your comment and questions. Costco recently raised their dividend to $0.96 (1.20%) and the ROE is currently at 12.1%.

    They're consistently growing domestically with new warehouses but also expanding existing sites. For example, nearby me in San Juan Capistrano, CA they bought out the property of a Ford dealership to build a gas station and car wash.

    Lastly, the following list should give you an idea of the mix between domestic and international expansion:

    CHESTERFIELD, VA – REOPENING May 12, 2011
    COURTENAY, BC, CANADA June 2, 2011
    LODI, CA June 9, 2011
    MARLBORO, NJ July 6, 2011
    SAN MARCOS, CA – REOPENING July 8, 2011
    AUBURN, AUSTRALIA July 21, 2011
    CANBERRA, AUSTRALIA July 22, 2011
    SANATOGA, PA August 17, 2011
    FREDERICTON, NB, CANADA August 19, 2011
    TAINAN, TAIWAN August 23, 2011
    NORTH KAOHSIUNG, TAIWAN August 24, 2011
    MAEBASHI GUNMA, JAPAN August 26, 2011
    FRISCO, TX September 2011
    PEWAUKEE, WI October 26, 2011
    YAWATA, JAPAN November 2011
    ZAMA, JAPAN November 2011
    AUGUSTA, GA Fall 2011
    WHEATON, MD Fall 2011
    SARASOTA, FL Fall 2011
    PORT ST. LUCIE, FL November 2011
    Jun 10 10:09 AM | Likes Like |Link to Comment
  • Getting Defensive in Light of Economic Headwinds [View article]
    Au contraire mon cher Americain.... I see some of your prior comments and don't have the time nor think this is the forum to exchange too much banter (political etc)....

    This article wasn't intended to advocate "market timing". That's not what I do. Exhibiting some discipline, tactically allocating, and maximizing my conviction/returns for clients is what I do.

    "Buying and forgetting" via static boilerplate models is what a computer or inexperienced investor can do.
    Jun 8 06:12 PM | 1 Like Like |Link to Comment
  • Cramer's Lightning Round - I Haven't Felt This Way About Alcoa in Ten Years (6/3/11) [View article]
    Agree. We have slowly begun initiating some positions in AA and will likely add more in this range. I feel it's a very attractive longer-term play but one can certainly take advantage of trading it too.
    Increased demand from global infrastructure projects coupled with their focus on restructuring and divesting underperforming assets makes this a very solid company over the next few years.
    Jun 5 01:51 PM | 1 Like Like |Link to Comment
  • Getting Defensive in Light of Economic Headwinds [View article]
    Don't get greedy is right. I just read this again the other day and apologize for not having the exact quote but it was something to the effect of "simply losing a little is still not a winning strategy".
    Jun 3 02:45 AM | 1 Like Like |Link to Comment
  • Getting Defensive in Light of Economic Headwinds [View article]
    SmartStops,

    Thanks for sharing those facts. Agree. While I and many have been taught that "market timing" is futile / challenging, we are rarely shown what the benefits of even a moderate approach to tactically allocating and adjusting portfolios.

    Thanks again for sharing your numbers and your link.
    Jun 3 02:35 AM | 1 Like Like |Link to Comment
  • Getting Defensive in Light of Economic Headwinds [View article]
    Gratian,
    Thanks for the good words. You pretty well summed up and "get" what I'm trying to say. I don't want my clients, or others for that matter, to perceive this article as one that advocates anything much more than being cautious and taking advantage of what has been a strong run. Assuming one has been in the market over the past two years it makes sense, in my opinion, to reassess and take profits, get a bit defensive and reallocate.
    Jun 3 02:27 AM | 2 Likes Like |Link to Comment
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