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mtgiuliano

mtgiuliano
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  • Durability Test: Realty Income [View article]
    Brad, thanks for another great article on O. By spring I had maxxed out my Roth IRA, bought O and am dripping the dividends.
    Jul 23, 2015. 01:54 PM | 2 Likes Like |Link to Comment
  • Yahoo's NFL Deal Is A Mistake [View article]
    I found this analysis to be superficial...had some wide gaps in the premise's which need to be explained. You wrote:

    "I don't see Yahoo trying to outbid one of the larger networks for a sports package like this. One game is a different story. Yahoo recently lost out on the bidding to Hulu, perhaps the third biggest streaming service currently, and that was for a deal of TV shows worth about $180 million. If Yahoo wasn't willing to go towards $200 million on that deal, I don't know if you can expect it to pay about twice that a year for just for a handful of football games."

    So your reasoning is that they wouldn't spent $180 million on an unnamed TV show, so they probably wouldn't spend more than that on anything? Or that Yahoo can't compete with the bigger production companies..that assumes the current structure to serve viewers won't change.
    All of these companies recognize that millennial's are not interested in traditional paid TV (cable, satellite, etc.) packages. They increasingly consume streaming content, so all of these companies are trying to adapt. This small ($20 million) experiment is one baby step towards that transition. Yahoo may very well not do well, but at least they are trying. So they made only $140 million last year? So it is not possible they end up bidding on an NFL package to increase their net income?
    AT&T may be one of the leaders in providing content..you can buy their package and not only watch it at home on your TV, but log into your account with a laptop, tablet or phone and see the same programming line up anywhere you have internet access.
    Jun 4, 2015. 01:27 PM | Likes Like |Link to Comment
  • Yahoo's NFL Deal Is A Mistake [View article]
    I wouldn't call a $20 million experiment for a company the size of Yahoo a huge loss..especially since streaming is the future for ALL content consumption.
    Jun 4, 2015. 01:01 PM | 1 Like Like |Link to Comment
  • Why I May Finally Buy GE Again After Its Major Spin-Off [View article]
    Bob,
    I would hope you now realize that when the stock dropped to $5 that was an excellent buying opportunity. Agreed that GE is not in the same class as J&J, XOM,etc., but when I purchased some GE for $9 during the crisis it was because even if you eliminated GE Capital, all the other division's were still worth $16-17/share.
    Saying you are know interested in GE after the stock shoots up...the idea is to grab the horse before it gets out of the barn.
    Apr 10, 2015. 04:25 PM | 8 Likes Like |Link to Comment
  • AT&T's Buyback Report Card [View article]
    I agree...I always question when I hear that a company creates value when buying back stock. Is value being created or just redistributed?
    Generally I would think value creation would lead to increased sales and/or cost reduction. I do note the reduced dividend payments, but that just represents about 5%(approx. dividend yield) of the purchase price of the stock that was bought.
    Mar 26, 2015. 12:23 PM | Likes Like |Link to Comment
  • GE: Immelt's Rumored Departure Could Mean Upside For Shares [View article]
    I agree that management compensation needs to be more aligned with value being created...and that needs to be measured with a combination of revenue/gross profit/operating income goals.
    It was no mistake that I did not list share price...that just encourages using cash to buy back shares and reduce the share count, thus increasing share price without creating any actual value. As a long term investor I want true value creation, not share price manipulation.
    Mar 19, 2015. 04:10 PM | 4 Likes Like |Link to Comment
  • Coca-Cola's Dividend Growth Is Still Strong Despite Fundamental Challenges [View article]
    As the author mentions, earned income is an accounting metric that does not measure cashflow...and cash is what is needed for dividends.
    While most expense items are paid with cash (rent, electricity, etc.) there are some that are merely accounting entries...depreciation is usually the primary one. Depreciation is a accounting entry to reduce, on paper, the value of assets you have purchased in past years..it does not represent any cash payments. So each year earned income (ie: EPS) is reduced by this paper entry, which has no effect on FCF.
    For each of the last three(3) years KO's depreciation expense has been almost $2 billion...that is cash that could be used to pay dividends that is not reflected in earned income.
    Mar 19, 2015. 03:20 PM | 2 Likes Like |Link to Comment
  • AT&T: Some Good News [View article]
    As I get older I become more convinced that it is better to be lucky than smart!
    Mar 18, 2015. 11:05 AM | 5 Likes Like |Link to Comment
  • The Energy Sector - Risk Or Opportunity? The S&P 500 2015: Part 2 [View article]
    Mike,

    I like your strategy and will follow suit!

    Mark
    Jan 16, 2015. 01:08 PM | Likes Like |Link to Comment
  • Coca-Cola's Management Needs To Step Up [View article]
    The comment section is here for you to be heard, but you don't need to YELL.
    Jan 13, 2015. 09:56 PM | 1 Like Like |Link to Comment
  • Pepsi Edges Out Coca-Cola In Key Dividend Growth Measures [View article]
    Michael, thanks I enjoyed the article. I do have a question about the Free Cash Flow Payout ratio graph.

    You state, "The graph above shows that Pepsi has consistently provided a better free cash flow payout ratio over the last 10 years."

    Excuse me if I am being a little dense...the PEP line is mostly below the KO line on the graph. So the lower payout ratio is better? Is the concern about the margin of safety?
    Jul 15, 2014. 01:53 PM | Likes Like |Link to Comment
  • GE: Why I'm Bullish [View article]
    I bought some shares at $9.84, so it has been awesome.
    Jun 26, 2014. 01:00 PM | Likes Like |Link to Comment
  • GE: Why I'm Bullish [View article]
    The difference between now and the '90's is that GE stock is not greatly overvalued. When Welch retired, GE was overpriced...not Welch's fault that Mr. Market made him legend in his own time. Maybe he did know that the internet bubble would be bursting sooner rather than later though.
    Even if Welch stayed on the stock was going to take a big hit...remember that it was Welch that set GE up to depend on its Finance division for a large portion of its profits. Moving GE back to manufacturing (particularly infrastructure goods) is what will help secure a future with consistent results.
    Jun 26, 2014. 12:58 PM | 2 Likes Like |Link to Comment
  • GE: Why I'm Bullish [View article]
    WisPokerGuy, thanks for saying what I was thinking.
    Jun 26, 2014. 12:49 PM | 3 Likes Like |Link to Comment
  • A Multistage Rocket Model For A Dividend Growth Stock Portfolio [View article]
    Thanks for another useful perspective to use in building my portfolio. My wife and I have spent the last 7 years putting our children thru college. Last tuition payment was a couple of months ago...suddenly I have some spare cash to put to work besides the 401K.
    Jun 18, 2014. 11:37 PM | Likes Like |Link to Comment
COMMENTS STATS
26 Comments
38 Likes