Lenovo And Huawei: Chinese Smartphones Ready To Take On The World [View article]
Thanks Panoplos, will take your suggestions in account for future articles.
In this instance the investment thesis was purposely less prominent then my other articles, valuation multiples provided in print screen for example. A general introduction of these two companies seemed more appropriate given the relative lack of SA coverage compared to Apple, Samsung, Blackberry and Nokia.
On Lenovo being an easy double, time will tell. I'm actually focusing less and less on short term price movements, but if the business does well the share price tends to follow in due course.
Huawei featured quite prominently in yesterday's Financial Times, perhaps a case of where there's smoke there's fire..
Apple's Earnings Fall Is Completely Unjustified [View article]
Lenovo Group (http://bit.ly/UITQlX) and Huawei Investment & Holding, No.2 and No.4 in China, take on Apple and Samsung.. a.k.a. margin pressure! http://bit.ly/13oGoFw
President Obama yesterday warned Chinese counterpart Xi Jinping to halt his country's hacking of U.S. businesses, saying that continuing the cyber-theft would be a very difficult problem in the nations' economic relationship. Meanwhile, China wants a "level playing field" for its companies that invest in the U.S. Despite the areas of contention, one Chinese participant called the "shirtsleeves" summit "constructive, strategic and historic." [View news story]
Huawei Investment & Holding and Lenovo Group Ready To Take On The World http://bit.ly/13oGoFw
How Safe Are Silver Wheaton's Silver Streams? [View article]
Thanks for the article, actually eased into an initial SLW position yesterday after the recent big drops in gold and silver.
Sensible management team, a decent Q1 given the big drop in share price, hovering around the 52w low. Also liked how they amended their dividend policy on May 10, 2013. Interesting to see if we get a nice retracement within the next 6-12 months.
The headline should say 'Aegon Delivers Disappointing! Q1 2013 Results'.. Q1 2012: 525 million.. AGN.AMS -4,7%
Net income decreased to EUR 204 million as higher underlying earnings, realized gains on investments and lower impairments were more than offset by losses from fair value items.
Fair value items The results from fair value items amounted to a loss of EUR 286 million. The loss was mainly due to macro equity hedging programs in the Americas which were unfavorably impacted by strong increases in equity markets during the first quarter.
The Next Exxon Mobil? Rosneft, The Biggest Oil Company You've Never Heard Of [View article]
Rosneft BOD Recommends 2012 Dividend at 8.05 rubles per share, which constitutes 25% of its IFRS net profit, 7% YoY increase compared to 2011 (7.53 rubles).
The Board of Directors also resolved to convene an extraordinary general meeting of Rosneft shareholders and hold it by absentee vote (persons eligible to vote cast their votes on agenda items by voting ballots) on June 18, 2013. The EGM will consider only one agenda item: the approval of related interested-party transactions as part of the joint projects implementation with ExxonMobil (XOM) for exploration and development of hydrocarbons in the offshore areas of the Black and Kara seas. May 6, 2013 (close of business) is set as a record date for the EGM.
Royal Imtech: Short Covering After Negative Analyst Report Proves Unfounded [View article]
When I initially wrote this article, 2-3 weeks after Imtech had given a very firm and detailed rebuttal to ABN's analyst report, the credibility of both Imtech's management board and their auditor KPMG was still very different. As you may know their reputation has always been very strong, also given their operational results and expansion during previous years.
Once the AWW issue arose they stated very firmly that the problems in Poland were isolated. The initial estimate was about €100 million, which ended up at €150 million. Then the Germany hit as well, first €150 million, later €70 million extra, €220 million total for Germany. €370 million writedown 'unforeseen' by management and KPMG when the article was written in December.
Then you also have €55 million restructuring costs for Q4 2012 (1000 people) and now again €80 million extra for laying off an additional 1300 people. The new CEO states he 'hopes' all the problems are behind Imtech now, but it will take more time to complete the 2012 audit.
There you have it in a nutshell why Imtech's share price is now hovering at €8,5. It was planned (but still fortunate) selling at €20, but otherwise I would have had exposure to AWW as well, and I don't like it that management thought everything was perfectly fine between buying in December and selling in January after the back and forth with ABN in November on Germany. You need to know what is happening in your company otherwise investing comes down to luck instead of facts.
As also mentioned in a previous post I was back in the stock at €8,35 as of February 18, but out again recently because of the stoploss at cost. I’m now going to wait a while, given the latest events. I want to see the pricing of the rights issue first and see if Imtech’s price holds the €8... which I doubt at the moment
$90 Billion Glencore-Xstrata Powerhouse To Go Ahead After Increased Offer [View article]
China approves Glencore and Xstrata deal
The Chinese government has removed the last remaining barrier to the $76bn merger of Glencore and Xstrata after the trading house agreed to sell one of the combined group’s largest mining projects.
The long-awaited approval from Beijing clears the last major hurdle in a 15-month saga to create one of the world’s largest companies in the natural resources industry, combining production and trading under the same umbrella. Glencore expects to close the deal on May 2.
Seeking Value, Growth And Income After The Recent Run Up? Check Out These Tech Titans [View article]
Thanks Chuck, I do admit to the same strategy for most of my portfolio, being a great fan of Graham, Buffett, Munger, yourself, F.A.S.T, and the benefits of value investing in solid dividend stocks, but I find myself continuously evaluating past mistakes and trying to maximize overall return if I consider the risk/reward to be favorable enough.
The first time I ventured into both INTC and CSCO years ago I bought too high, even though fundamentals were still fine (undervalued). Given the importance of entry point I started to utilize technical indicators more and option strategies more as time went on. I can't speak for all my holdings, but I consider the best holding period for my core equity holdings to be almost forever.
Although many dividend and income investors argue the same you find the average holding period actually going down and people selling low after buying too high because they emotionally have difficulty dealing with market corrections. Emotional investing is still the biggest pitfall for many retail investors.
Seeking Value, Growth And Income After The Recent Run Up? Check Out These Tech Titans [View article]
While I owned both INTC, CSCO on several occasions in the past I've found them most interesting in terms of buying in the lower end of pretty predictable trading ranges and selling them after a 15-20% run-up, enjoying their dividends in the meantime. There are so many macroeconomic, monetary and political issues at present that it seems prudent to take some money off the table after quick run-ups in the market and/or individual stocks.
The problem with debating undervaluation of stocks is that we've been having this debate for 3 - 4 years now with these three. Mr Market is hardly rational, so we may be debating for a few more years before we see fair value.
INTC is again looking good at present in terms of relative price, dividend yield, and the steps they are taking to compete with ARMH in mobile computing. They fact is they were too late to the smartphone and tablet party, but nothing that cannot be rectified with time.
With regards to CSCO and MSFT at present, I would probably go for GE and AAPL instead.
Seadrill, Transocean And Ensco: Which Is The Best Bet For Now? [View article]
Many variables like quality of assets, when were you able to contract (or are you able to re-contract), terms of contract..
What it always comes down to is the bottom-line, so you should also compare the two (ESV vs SDRL):
•Revenue resulting in actual net profit? •Which dividend level is sustainable? •Company flexibility if things don't go quite as smoothly as anticipated?
All valid questions, as you can focus your attention on the rewards without sufficient consideration for the associated risks. Debt to equity is one..
Lenovo And Huawei: Chinese Smartphones Ready To Take On The World [View article]
In this instance the investment thesis was purposely less prominent then my other articles, valuation multiples provided in print screen for example. A general introduction of these two companies seemed more appropriate given the relative lack of SA coverage compared to Apple, Samsung, Blackberry and Nokia.
On Lenovo being an easy double, time will tell. I'm actually focusing less and less on short term price movements, but if the business does well the share price tends to follow in due course.
Huawei featured quite prominently in yesterday's Financial Times, perhaps a case of where there's smoke there's fire..
'Huawei open to Nokia (NOK) deal but says Windows (MSFT) mobile remains weak'
http://on.ft.com/12USCuK
Apple's Earnings Fall Is Completely Unjustified [View article]
http://bit.ly/13oGoFw
President Obama yesterday warned Chinese counterpart Xi Jinping to halt his country's hacking of U.S. businesses, saying that continuing the cyber-theft would be a very difficult problem in the nations' economic relationship. Meanwhile, China wants a "level playing field" for its companies that invest in the U.S. Despite the areas of contention, one Chinese participant called the "shirtsleeves" summit "constructive, strategic and historic." [View news story]
http://bit.ly/13oGoFw
5 Top China Dividend Stocks [View article]
http://bit.ly/14sqwUk
http://bit.ly/YWljD4
http://bit.ly/14sqwUm
Renminbi Keeps Going, Chinese Companies Keep Coming [View article]
How Safe Are Silver Wheaton's Silver Streams? [View article]
Sensible management team, a decent Q1 given the big drop in share price, hovering around the 52w low. Also liked how they amended their dividend policy on May 10, 2013. Interesting to see if we get a nice retracement within the next 6-12 months.
http://bit.ly/11BBkCb
Aegon Delivers Strong Q1 2013 Results [View article]
Net income decreased to EUR 204 million as higher underlying earnings, realized gains on investments and lower impairments were more than offset by losses from fair value items.
Fair value items
The results from fair value items amounted to a loss of EUR 286 million. The loss was mainly due to macro equity hedging programs in the Americas which were unfavorably impacted by strong increases in equity markets during the first quarter.
Telefónica's CEO Discusses Q4 2012 Results - Earnings Call Transcript [View article]
The Next Exxon Mobil? Rosneft, The Biggest Oil Company You've Never Heard Of [View article]
Press Release 06 May 2013: http://www.rosneft.com
ROSN.LSE Past Dividends: http://bit.ly/12dAAON
The Board of Directors also resolved to convene an extraordinary general meeting of Rosneft shareholders and hold it by absentee vote (persons eligible to vote cast their votes on agenda items by voting ballots) on June 18, 2013. The EGM will consider only one agenda item: the approval of related interested-party transactions as part of the joint projects implementation with ExxonMobil (XOM) for exploration and development of hydrocarbons in the offshore areas of the Black and Kara seas. May 6, 2013 (close of business) is set as a record date for the EGM.
Royal Imtech: Short Covering After Negative Analyst Report Proves Unfounded [View article]
Once the AWW issue arose they stated very firmly that the problems in Poland were isolated. The initial estimate was about €100 million, which ended up at €150 million. Then the Germany hit as well, first €150 million, later €70 million extra, €220 million total for Germany. €370 million writedown 'unforeseen' by management and KPMG when the article was written in December.
Then you also have €55 million restructuring costs for Q4 2012 (1000 people) and now again €80 million extra for laying off an additional 1300 people. The new CEO states he 'hopes' all the problems are behind Imtech now, but it will take more time to complete the 2012 audit.
There you have it in a nutshell why Imtech's share price is now hovering at €8,5. It was planned (but still fortunate) selling at €20, but otherwise I would have had exposure to AWW as well, and I don't like it that management thought everything was perfectly fine between buying in December and selling in January after the back and forth with ABN in November on Germany. You need to know what is happening in your company otherwise investing comes down to luck instead of facts.
As also mentioned in a previous post I was back in the stock at €8,35 as of February 18, but out again recently because of the stoploss at cost. I’m now going to wait a while, given the latest events. I want to see the pricing of the rights issue first and see if Imtech’s price holds the €8... which I doubt at the moment
$90 Billion Glencore-Xstrata Powerhouse To Go Ahead After Increased Offer [View article]
The Chinese government has removed the last remaining barrier to the $76bn merger of Glencore and Xstrata after the trading house agreed to sell one of the combined group’s largest mining projects.
The long-awaited approval from Beijing clears the last major hurdle in a 15-month saga to create one of the world’s largest companies in the natural resources industry, combining production and trading under the same umbrella. Glencore expects to close the deal on May 2.
http://on.ft.com/170m7ZF
Seeking Value, Growth And Income After The Recent Run Up? Check Out These Tech Titans [View article]
The first time I ventured into both INTC and CSCO years ago I bought too high, even though fundamentals were still fine (undervalued). Given the importance of entry point I started to utilize technical indicators more and option strategies more as time went on. I can't speak for all my holdings, but I consider the best holding period for my core equity holdings to be almost forever.
Although many dividend and income investors argue the same you find the average holding period actually going down and people selling low after buying too high because they emotionally have difficulty dealing with market corrections. Emotional investing is still the biggest pitfall for many retail investors.
Analysts Are Lining Up Behind Cheap Halliburton [View article]
http://huff.to/XAX4vN
Seeking Value, Growth And Income After The Recent Run Up? Check Out These Tech Titans [View article]
The problem with debating undervaluation of stocks is that we've been having this debate for 3 - 4 years now with these three. Mr Market is hardly rational, so we may be debating for a few more years before we see fair value.
INTC is again looking good at present in terms of relative price, dividend yield, and the steps they are taking to compete with ARMH in mobile computing. They fact is they were too late to the smartphone and tablet party, but nothing that cannot be rectified with time.
With regards to CSCO and MSFT at present, I would probably go for GE and AAPL instead.
Seadrill, Transocean And Ensco: Which Is The Best Bet For Now? [View article]
What it always comes down to is the bottom-line, so you should also compare the two (ESV vs SDRL):
•Revenue resulting in actual net profit?
•Which dividend level is sustainable?
•Company flexibility if things don't go quite as smoothly as anticipated?
All valid questions, as you can focus your attention on the rewards without sufficient consideration for the associated risks. Debt to equity is one..