winhorse/iStock Unreleased via Getty Images AIA Group (OTCPK:AAIGF) has come down significantly since my first coverage of it in June 2023 when it shouldn’t have. Despite the Group’s strong financial performance, the market has been wary of its Chinese exposure. These “exogenous factors”, however, never had much of an impact on the fundamentals of the…
AndreyPopov The large-cap pharmaceutical group has lagged the stock market badly over the past year, relative to the S&P 500 jump of +25% or high-flying NASDAQ 100 index spike of +40%. So, I consider this sector a good hunting ground for bargains. Since late summer, I have written bullish views on Pfizer (PFE) here and…
NoDerog/iStock Unreleased via Getty Images Introduction Per my April 2023 article, Monster’s (NASDAQ:MNST) gross margin has fallen substantially from the 60% level of 2019. Some of this is transitory due to the company’s covid philosophy of emphasizing product availability over economics. However, some of it is permanent seeing as growth is high in segments where…
Marut Khobtakhob Introduction Clearing and settlement must have a higher priority than transactions. To calm the securities markets, clearing and settlement must become the main event. T+1 leaves safety second to volume in the markets’ priorities. It spends more resources on a failed clearing system instead of changing the priority of clearing to assure market…
koto_feja The AI trend has lifted almost every stock that has a whiff of artificial intelligence capabilities in the market this year. But what generalist investors have to be wary of is that AI is a very broad category, and certainly not all companies are of comparable quality. This year’s rally seems to have lifted…
cruphoto China Concerns For readers following our writing, you may recall that we rated Rio Tinto (NYSE:RIO) as Buy for price levels below $70 in the past 1~2 years. And that is also the price range where we accumulated our shares. Now, we are thinking about selling our shares and we are contemplating a target…
AdShooter/E+ via Getty Images The Cornerstone funds, CLM and CRF, are some of the oldest CEFs that trade on the stock market. The original Cornerstone Total Return Fund (NYSE:CRF) began trading on the NYSE in May 1973. Although the fund’s stated investment objective is capital appreciation with a secondary goal of current income, many investors…
Spencer Platt Dear readers/followers, I’ve covered Omnicom Group (NYSE:OMC) and other advertising giants before, buying them during trough valuation and selling them at attractive prices. In my last article, which by the way you can find here, I made a point for why Omnicom represented a “BUY” but not the “best” buy out there. This…
PeopleImages/iStock via Getty Images Introduction & Investment Thesis I initiated a buy rating on Teladoc (NYSE:TDOC) on January 24, 2024. However, since then, the stock has declined by 28%. The company reported its Q4 FY23 earnings, where it saw its revenue grow 8% YoY to $2.6B and Adjusted EBITDA grow 33% YoY to $328M. While…
William_Potter This article is part of a series that provides an ongoing analysis of the changes made to Harris Associates 13F stock portfolio on a quarterly basis. It is based on Harris Associates’ regulatory 13F Form filed on 2/14/2024. William Nygren’s 13F portfolio value increased from $51.39B to $58.34B this quarter. The portfolio is diversified…
Kobus Louw/E+ via Getty Images If you’re a concentrated investor like me, you’d want to pick the industry leader, rather than gain unnecessary exposure to lower-quality names. Booking Holdings (NASDAQ:BKNG) is one of the most prominent names in the online travel market, which I view as an attractive way to capitalize on the ever-growing demand…
jetcityimage/iStock Editorial via Getty Images Petco Health and Wellness Company (NASDAQ:WOOF) operates over 1500 pet care centers in the United States, Mexico, and Puerto Rico, as well as pet veterinary hospitals, under the Petco brand. The company also has the Petco mobile app, providing information on pet care and a convenient way to order products…
Alexander Koerner The following segment was excerpted from this fund letter. Alphabet / Google (NASDAQ:GOOG,NASDAQ:GOOGL) In early 2023, we initiated an investment in Alphabet, the parent company of Google, at a highly attractive valuation during a period when apprehension about the company’s competitive positioning in AI overshadowed the high-quality nature of its business and strong…
fhogue/iStock Editorial via Getty Images Electronic Arts (NASDAQ:EA) is advancing its operations through prudent integrations of AI, which its CEO describes as having the potential to increase its network by 50% and increase business efficiency by 30%. As such, this seems like a prudent time to become or to stay an EA shareholder. In addition,…
The companies on this page reflect all of the portfolio companies, long and short, as of March 19, 2024, in respect of which (‘A’) Pershing Square or any Pershing Square Fund, as applicable, has designated a representative to the board, filed Schedule 13D, Form 4 or a similar non-US filing or has made a Hart-Scott…
Michael Vi It’s difficult to remember this maxim in a frothy market environment, but investors should always keep in the back of their heads that valuation matters. Amid all-time market highs, a rising tide will not lift all boats: especially expensive stocks that are starting to see their strong fundamental performance unwind. MongoDB (NASDAQ:MDB), unfortunately,…
pepifoto There’s the man, and then there’s the index. There’s the index, and then there’s the ETF. A lot of people are familiar with media personality Joe Terranova. He’s got an index and a fund that seeks to track that index which is rules-based. The methodology is worth taking a look at independent of Mr….
chas53/iStock via Getty Images Co-authored by Treading Softly At my home, it is always an exciting time when someone gets to collect the chicken eggs from our coop. Our flock of chickens has always been highly productive, meaning that we get a large number of eggs every single day from our hens. My children loved…
AdamParent Listen below or on the go on Apple Podcasts and Spotify FOMC members may look to temper market enthusiasm. (0:20) GameStop, Walgreens set to report earnings. (2:26) Goldman sees path to S&P 6,000. (4:38) The following is an abridged transcript: The top stories to look out for The Fed took the headlines this past…
Michael Vi I discussed my bullish view on MongoDB (NASDAQ:MDB) stock in my initiation article, highlighting their strengths in the document-based database market. They released their Q4 FY24 result on March 7th, delivering 27% revenue growth and 86.1% adjusted operating profit growth. I am still confident that MongoDB will deliver above 20% revenue growth over…
simonkr What a difference a few months make. Hudson Pacific Properties (NYSE:HPP) back in October was trading close to 52-week lows, had suspended its dividend, and faced an uncertain end date with the actors strike that had broadly shuttered its studio portfolio as it teetered on the edge of violating its stringent debt covenants. The…
cemagraphics The S&P 500 (SPY) made another decisive break higher this week. This follows several weeks of stalling and a shift in market behaviour (lower weekly closes, weaker action on Fridays) which failed to deliver a decisive breakdown. As last weekend’s article concluded, “The charts show indecision rather than a strong signal either way…the odds…
Wicki58/iStock via Getty Images Introduction UMH Properties (UMH) focuses on owning and operating manufactured home communities. As of the end of last year, UMH owned and operated 135 manufactured home communities with a total of almost 26,000 developed homesites in several US states. UMH Investor Relations In a previous article, which was published in January…
Anthony Bradshaw Many investors seem to be ignoring gold and the gold mining sector while they instead pursue “hot money” investments such as Bitcoin and AI stocks like NVIDIA (NVDA). However, gold has recently been hitting new highs, and the price of gold could have much further to run in the coming years. Gold mining…
Andrew Burton Despite reporting decent earnings numbers last month, Alibaba’s (NYSE:BABA) stock failed to gain momentum and has been underperforming against the broader market in recent quarters. As international capital continues to leave China in droves while the geopolitical risks are on the rise, it’s safe to assume that Alibaba’s stock is likely to remain…
DNY59 We previously covered Anheuser-Busch InBev SA/NV (BUD) in November 2023, discussing its (still) impacted sales volume in the North American region, with losses intensifying as the management had to provide financial assistance to its wholesalers. Then again, we had maintained our Buy rating, with the management’s successful marketing efforts in other regions contributing to…
Dragon Claws Fundamentals: This past week, gold prices went up and down a lot, hitting new highs over $2200 per ounce at one point. This was all happening around a big meeting by the Federal Reserve, which is like the central bank of the United States. They talk about and decide on things like interest…
Eoneren Introduction and investment thesis Last time I’ve covered Snowflake (NYSE:SNOW) following its FY24 Q3 earnings release, where I rated the company’s shares as a Strong Buy. Important new product launches, some of which are already contributing to revenues combined with stabilizing consumption trends and a decreased valuation premium have been my main arguments in…
Michael Vi Tencent (OTCPK:TCEHY) shares traded up 1.5-2.0% after the Chinese tech giant reported Q4 and FY 2023 results. Although revenue came in somewhat lower than expected, profits surged 23% YoY, comfortably beating consensus. In addition, Tencent surprised markets positively by revealing a $12.8 billion stock buyback program (expected to be up 100% YoY), as…
da-kuk I published an article on SentinelOne, Inc. (NYSE:S) about 9 months ago. To summarize my thoughts at the time, I think the company was obviously very promising but I was worried that profitability was looking increasingly far off. On the contrary, management was actually targeting at the time to reach profitability on a cash…
fergregory/iStock via Getty Images In October, I re-iterated my buy rating on the Adams Diversified Equity Fund (NYSE:ADX). In my opinion, ADX is one of the most impressive growth-oriented closed-end fund (“CEF”) in the market, with a long track record of strong performance. ADX was also well positioned, with large weights in the ‘Magnificent 7’…
The companies on this page reflect all of the portfolio companies, long and short, as of March 19, 2024, in respect of which (‘A’) Pershing Square or any Pershing Square Fund, as applicable, has designated a representative to the board, filed Schedule 13D, Form 4 or a similar non-US filing or has made a Hart-Scott…
champpixs/iStock via Getty Images Automatic Data Processing, Inc. (NASDAQ:ADP) was founded in 1949. ADP is the largest provider of payroll and human capital management services in the world. The company offers a wide range of products and services for businesses of all sizes, from small enterprises to large corporations. It enjoys a recurring and capital-light…
2d illustrations and photos Emerging Markets have become an after-thought for many investors today. With beyond a decade of severe underperformance to both large and small US stocks, the EM Index is rarely discussed among even macro investors. Consider that just in the last year, the broad EM ETF is up less than 10%, dividends…
8vFanI Business Development Companies, known as BDCs, have been reaping the rewards of higher interest rates over the past year and a half, due to the fact that their investments usually feature floating rates, while their borrowings have a high % of fixed rates. As you’ll see in the Earnings section of this article, New…
Click to enlarge Arvydas Lakacauskas/iStock via Getty Images To the Shareholders of Pershing Square Holdings, Ltd.: In 2023, Pershing Square’s 20th year, Pershing Square Holdings (OTCPK:PSHZF) generated strong NAV performance of 26.7% versus 26.3% for our principal benchmark, the S&P 500 index.6 Our total shareholder return was 36.0%, as PSH’s discount to NAV narrowed by…
Editor’s note: Seeking Alpha is proud to welcome Kenio Fontes as a new contributor. It’s easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to SA Premium. Click here to find out more » Jacek_Sopotnicki In recent years, Warner Bros. (NASDAQ:WBD) has faced…
Gilnature Shares of vaccine maker Dynavax Technologies Corporation (NASDAQ:DVAX) continue to trade at the lower end of a $12 to $15 range, which they have more or less maintained since mid-June 2023. The company’s core asset (HEPISLAV-B) saw FY23 sales improve 69% over FY22 to $213.3 million, making the company cash flow positive despite the…
fotostorm Thesis Global Partners (GLP) is a U.S. Master Limited Partnership (‘MLP’) which functions as an owner, supplier and operator of gasoline stations and convenience stores. The MLP has seen its common shares rocket upwards in the past year, on the back of better than expected profitability and expansion plans: Data by YCharts As an…
Anna Moneymaker/Getty Images News The FOMC meeting this week surprised many when it was revealed that the Fed still intended to cut rates three times in 2024. It seemed that given the back-to-back, hotter CPI inflation report to start the year and rising inflation expectations, the Fed would begin to push back against the easing…
artisteer Overview I frequently ignored Oaktree Specialty Lending (NASDAQ:OCSL) due to the falling share price. I figured that there was no way OCSL had the ability to provide a sufficient level of total return with such a fall in share price. Since inception, the BDC (business development company) is down nearly 47% in price. However,…
Andreus When one thinks of a small cap company that delves into the space, data and AI sectors, profits are generally not something that comes to mind. An exception to that rule may be Spire Global, Inc. (NYSE:SPIR). The stock has been on an absolute tear, with a chart similar to NVIDIA Corporation (NVDA) and…
ALLVISIONN/iStock via Getty Images Investors who read my articles are likely aware of my skepticism toward “investment products” that offer double-digit yields, particularly “buy-write” or “option strategy” ETFs and closed-end funds. The issue with these funds is not necessarily that their strategy is bad or meritless but that they are so often marketed to individual…
tumsasedgars On our last coverage of Global Net Lease, Inc. (NYSE:GNL), we spoke about the reasons we exited the common shares in a timely fashion. We also covered the preferred shares, which are listed below. Global Net Lease, 7.25% Series A Cumulative Redeemable Preferred Stock (NYSE:GNL.PR.A) Global Net Lease 6.875% Series B Cumulative Redeemable Perp…
Nikada Elevator Pitch CK Asset Holdings Limited (OTCPK:CHKGF) [1113:HK] is rated as a Hold. On its corporate website, CK Asset calls itself a “multinational conglomerate” that is “one of the largest property developers in Hong Kong.” With my previous write-up published on June 29, 2021, I touched on CK Asset’s capital allocation moves in terms…
Dennis Diatel Photography While its stock is nowhere near the peak it reached during the meme stock mania of 2021, GameStop Corp. (NYSE:GME) has the potential to rebound from current levels, in my opinion, when it posts its Q4 and full year 2023 results on March 26 after market close. Analysts expect the video game…
Ultima_Gaina When I initiated my bullish view on Arista Networks (NYSE:ANET) in January 2015, their stock price was only $16.32. Since I published the second piece in June 2023, their stock price has surged by another 94.8%. The company has been gradually appreciated by investors, as evidenced by their rising stock price. They completed the…