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JPV

JPV
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  • Moody's Is A Great Growth And Income Story [View article]
    MCO is a great company to own and its fundamentals are extremely good.
    Its a strong and competitive company and the most profitable amongst its few peers.
    Today I think it is probably a bit expensive and therefore not the best time to buy or to get in. Given de volatility of the stock (beta 1.6) I would recommend people to wait for a better opportunity to get in. Apart from that its a great stock to own and stay long with it.
    Mar 15, 2015. 01:14 PM | Likes Like |Link to Comment
  • ModernGraham Quarterly Valuation Of Polo Ralph Lauren Corp. [View article]
    I have admired RL as a company for a long time.
    I have missed the opportunity to get in some years ago but now ( after the drop ) I have got in and I will probably again add to my position at the current price level.
    Your valuation shows a very good result, which does not happen given the current
    market high's. RL looks like a real steal for a value investor.
    Thanks for the timely update!
    Mar 14, 2015. 11:38 AM | Likes Like |Link to Comment
  • Wells Fargo downgraded at SocGen [View news story]
    WFC is one of the best banks you can own. Just look at their ROA (>3.0) and try to find another bank that even comes close!
    Most banks have ROA that indicate loudly KEEP away from there.
    The ROA is the only meaningful financial indicator for the health of a bank long term. If you have WFC in your portfolio you should hold on to it and buy more if it dibs down. It is also quite stable and it is Berkshires largest holding!
    Mar 10, 2015. 12:56 PM | 3 Likes Like |Link to Comment
  • 8 Reasons American Express Is An Attractive Stock For 2015 [View article]
    Yes AXP has excellent financial fundamentals. The company faces however stronger and stronger competition from both Visa and MasterCard who have different business models. AXP is losing its competitive advantage as the advantages for their cardholders become less obvious and retailers are more and more dissatisfied with the fees they need to pay. AXP is still a real credit card but most people do not know that any more. Today an AXP holder needs another card because the AXP card is often no longer accepted, especially abroad. This trend exist already for quite a while and it seems AXP is milking its business in staid of doing something to grow its
    membership and provide their cardholders with new satisfactory benefits.
    Mar 10, 2015. 12:40 PM | 1 Like Like |Link to Comment
  • Johnson & Johnson: A Quality Company Positioned To Perform An Acquisition [View article]
    Thank you for this excellent review paper and the valuation approach that you have shared. Well written and convincing!
    Mar 10, 2015. 12:17 PM | Likes Like |Link to Comment
  • Why Medtronic-Covidien Deal Will Lead To Strong 2015 Performance [View article]
    This is very old news as MDT is already an Irish Company.
    Every investor who received additional shares of MDT as a result of the merger will have to pay taxes as these additional shares are treated as a dividend.
    The additional shares where basically received by Covidien shareholders.
    I do agree that the merger will benefit all shareholders of the Irish MDT.
    Mar 10, 2015. 12:06 PM | Likes Like |Link to Comment
  • Verizon: Strong FCF Supporting A Terrific Dividend [View article]
    Very good point made. The pay out ratio however is ok in the many cases where the cash flow is not that much higher than the earnings. I thank you for pointing out the special situation in case companies have fast depreciating assets like VZ which actually also illustrates the technology and competitive risk a company such as VZ is exposed to. The high debt of VZ is therefore also a high risk in case these assets loose fast value in reality at a certain moment. Estimating the real value of VZ assets (not the BV) is difficult but could be very important for the proper valuation of the company. Any one have any idee or indication?
    Mar 7, 2015. 05:05 AM | 3 Likes Like |Link to Comment
  • Google And Facebook Declare Internet Independence From Carriers [View article]
    I do not think that Google and Facebook will have those who own the infrastructure and who make the regulations bent over so easily.
    They will put pressure but they are not the only the only one's that want more bits and faster speed or capacity of the networks.
    The infrastructure is not in their hands but in the hands of many locals with monopolistic positions. What will happen is that the infrastructure will be grown and updated or replaced with new technologies as they develop.
    I see however as a result of this need for expansion of capacities that the era of free access and use will come at a higher price to the user. We already have in many geographic areas, including in the USA, zones of low and high speed as well as zones of constant overload. I am not surprised that Google and Facebook are complaining and putting pressure. The problem is that they have had a free ride much too long and see the end of that coming.
    Mar 3, 2015. 10:27 AM | 7 Likes Like |Link to Comment
  • McDonald's: The Powerhouse You Never Think Of, When You Think About Innovation [View article]
    Nice article and an example of a successful company that has still a great future.
    Personally I do not like at all the type of food they serve and the way they serve it.
    I am even proud to state that I never have eaten at MCDO.
    I have however used their business model, process improvement, innovation and culture as an example in management courses.
    Since long I have been waiting to buy some shares but they seem never to be cheap except last January.
    Mar 2, 2015. 10:23 AM | 1 Like Like |Link to Comment
  • People Are Buying Johnson & Johnson, But I'm Not Just Yet [View article]
    Good and useful article.
    Long JNJ and I hope patiently for the moment that I could add.
    Feb 27, 2015. 05:52 PM | 1 Like Like |Link to Comment
  • Be Greedy When Others Are Fearful: Baxter International [View article]
    I have had BAX for some years and done reasonably well.
    After the news of the split and the declining share price I sold 40% of my position and took some profits. I will continue to watch what happens because I am not very happy with the guidance and the way they are handling this split so far.
    I think it was better to take some profits and with the rest of my position I will be in better shape to face the headwinds.
    Also I think the market is becoming tired and the volatility will increase (Geopolitics, interest rate fever, Currency exchange fever and the wars in Ukraine, Middle East and Africa.)
    Ahead their will be better times and opportunities than today because the good opportunities for the long investor are getting rare.
    Feb 25, 2015. 04:09 PM | Likes Like |Link to Comment
  • IBM's One Hundred Year History Is About Cash, Culture And Mutualism [View article]
    This article is supposed to question the management abilities of the current IBM CEO to turnaround the company.
    The history displayed here does not offer any annalysis of competence but it does reach a conclusion based upon some strange personal opinion without foundation.
    IBM is alive and transforming itself by creating new services for its enterprise customer base and it is doing this using new technologies, new systems and new software and value added business collaborations whereby its intellectual property will play an increasing role.
    Ginny Rometty is leading this transformation and I have no ability whatsoever to make a judgement about her. The only thing I know is that she has become CEO of IBM and has been chosen because she went trough a selection process that has carefully selected her based upon the evaluation of her capabilities and leadership abilities.
    Her task and that of her team is challenging, to say the least, and the transformation will need time and some patience. Sometimes difficult actions need to be taken, that nobody likes but that are necessary to move forward.
    Nobody can predict how successful this will be but to discredit today the CEO in such an unfounded way is not fair at all.
    IBM cannot live in the past and neither should you.
    Feb 23, 2015. 10:36 AM | 4 Likes Like |Link to Comment
  • Procter & Gamble: An Excellent Showing In New York For The Long-Term Bulls [View article]
    Good and positive article on PG's Management intentions.
    I am happy and one can expect they are implementing without too much hesitation.
    Its a big task and it will probably get worse before it gets better because they have become a bit fat and lazy with their enormous collection of brands.
    I am long on PG but I will wait for the better buying opportunities that will come along in the process. It will get more interesting when the price is getting near 80 or under.
    Feb 23, 2015. 09:28 AM | 1 Like Like |Link to Comment
  • Baxter International: Dividend Uncertainty Creates A Buying Opportunity [View article]
    Investors do not like uncertainty and it seems that BAX does not seem to care about that. In addition I do not see why a company should create necessarily more shareholder value by splitting it into two distinct companies. If they think they need to do that, I take it as if they seem not able to manage it properly from within or are not able to communicate and report adequately to their shareholders.
    I am long on BAX as I think it is a solid company and I have no issue if the company is making acquisitions or is selling parts of the business to strengthen its competitiveness in the long term. Splitting up of the company is often the wrong move as the probability to address the strategic and operational underlying issues are only getting more complicated. For a shareholder a split means lots of uncertainty which is why the shares are now where they are and it could get worse.
    Abbott handled their split better but the verdict on the success is still out there in my opinion. I also was long on ABT but I waited for and opportunity and got out mainly because I was no longer able to value the separate companies properly.
    The same will occur with BAX and I will also wait for an opportunity to get out completely. As an investor I like to have the odds in my favour, when I loose that ability I get out and I think I am not the only one.
    Feb 23, 2015. 09:06 AM | 4 Likes Like |Link to Comment
  • Nasdaq Dividend Achievers: Nike [View article]
    Like your article and also your statement that Nike looks overvalued.
    I have been looking at Nike for quite a long time, but have not been able to get in at a fair value price. So I keep following NKE with patience.
    Feb 21, 2015. 10:38 AM | Likes Like |Link to Comment
COMMENTS STATS
273 Comments
322 Likes