Correctamundo

Unilever Offers Little Upside Based on Earnings Outlook

Veronique, at what multiple of free cash flow is Unilever currently trading? Do you think this metric is useful in assessing Unilever's relative valuation?

Loews Still a Bargain

Dan, Yahoo Finance's Cash Flow statements for Loews shows the company making $4.0 billion of capital investments in 2008 and $2.3 billion in 2007. In each year, the capital expended was about 10x their amount of annual depreciation. In 2008, their capital investment used up all their operating cash flow! In terms of driving free cash flow, these expenditures don't seem very disciplined on the part of management. Do you have any idea what Loews is spending all this capital on? Are you comfortable that Loews is reinvesting its cash flow in a way to create superior returns for shareholders?

The Contrarians' Revenge?

Doesn't the Pietroski method also look at the change in and level of accruals? Perhaps I'm getting his method mixed up with another method, but I thought that high level of accruals were warning signs under his method that company management might be overly managing the books.

What Value Investors Can Learn from Irving Kahn

I know that Irving Kahn is a famous investor. But does the author or anyone else have performance data to demonstrate Kahn's skill and accomplishments?

2009 Depression Will Be Nothing Like 1929

Mark, congratulations on eliciting a tremendous amount of feedback and discussion!

More seriously, how do you define "high relative strength?" Is that simply a stock and company that is doing relatively well vs. the rest of the market, ie MacDonalds?

Oil Service Stocks: A Deep Sea Play Whose Time May Have Come

Question: what kind of metric is "FPE?" What does it stand for and how is it calculated?

Baytex's Production Model Should Help Fuel Future Growth

Ted, can you comment on the concerns that PeteK and I raised about the change in Canadian tax policy and the impact to BTE? I don't understand how you can provide a recommendation on a stock without looking at these near-term issues.

Eye-Catching Portfolio Moves by Klarman, Witmer and Einhorn

Davy, thanks for the rapid clarification on Klarman's purchase of SFI. I had the same question as SeakC. More importantly, thank you for parsing the hedge fund holdings of these managers. You are a valuable contributor to SeekingAlpha, and I enjoy reading your articles.

Baytex's Production Model Should Help Fuel Future Growth

Todd, good article. But, how is BTE preparing to handle the loss of its partnership tax status in 2011(?) as a result of the Canadian government's decision to abolish preferential tax treatment for partnerships? I think this decision is a large Damocles-type of sword hanging over all the Canroys (Canadian partnership oil & gas companies).

American Eagle Outfitters: What Went Wrong?

What's Fisher's Rule?

Three Stocks That Look Cheap Here

Larry, when you say Valero is showing tremendous cash flow, how are you defining that term? Do you mean cash flow from operations or do you mean free cash flow? (The latter is typically defined as cash flow from operations less capital expenditures.)