Dilok Klaisataporn Chubb Limited (NYSE:CB) has had a phenomenal financial performance after my previous analysis, posting increasing margins and solid revenue growth beyond my previous analysis’ expectations. More recently in Q1, Warren Buffett seems to have noted the stock as a good buying opportunity, as a recent 13F filing shows Berkshire Hathaway’s (BRK.A) (BRK.B) newly…
HeliRy Note: I have covered Imperial Petroleum Inc. (NASDAQ:IMPP, IMPPP) previously, so investors should view this as an update to my earlier articles on the company. Following several quarters of relentless dilution, Greece-based tanker and dry bulk vessel operator Imperial Petroleum reversed course last year and started to buy back common shares in the open…
luza studios Super Micro Computer, Inc. (NASDAQ:SMCI) released much anticipated fiscal third quarter results, but moreover provided an ever greater anticipated (updated) guidance. The company has seen incredible operating momentum, but as share price momentum was even greater, it was evident that expectations were sky-high. Back in February, I believed that shares were approaching bubbly…
View of Frenchman Mountain and Las Vegas neighbourhood simonkr Red Rock Resorts, Inc. (NASDAQ:RRR) earnings release: May 7th. EPSE: $0.29 We expect a beat ~$0.7 due to ramp of new Durango if early numbers are delivered The Las Vegas local market’s strength has been overlooked by many investors in the gaming sector, who see its…
Richard Drury I last covered the Avantis U.S. Large Cap Value ETF (NYSEARCA: AVLV) in early 2023. In that article, I argued that AVLV’s diversified holdings, cheap valuation, and good performance track-record, made the fund a buy. AVLV has marginally outperformed the S&P 500 since, slightly underperforming my expectations. AVLV Previous Article I remain bullish…
dnaveh/iStock Editorial via Getty Images Since the last time I wrote about the skateboarding shoe brand Vans’ owner V.F. Corporation (NYSE:VFC) in January, its price is down by 21%. Even then, the company’s weakening fundamentals inspired little faith in the stock, prompting a Hold rating. But changes in leadership and a restructuring plan called Project…
wichianduangsri/iStock Unreleased via Getty Images Introduction The Green Dream, Carbon Zero Targets, Sustainability and Renewable Energy are all part of everyday parlance. The importance of the need to harness wind power and solar power to meet our ever-increasing demands for energy is constantly being highlighted. Silver is a ‘must have’ metal in these operations due…
Thomas Barwick Investment action Based on my current outlook and analysis of Darden Restaurants (NYSE:DRI), I recommend a hold rating. My review of DRI suggests a poor FY25 SSS performance ahead, given the inflationary environment that impacts consumer traffic and its cost base. Relative to Texas Roadhouse (TXRH), DRI performance is also relatively poorer, which…
Manuel Milan/iStock Editorial via Getty Images The following segment was excerpted from this fund letter. Belron is one of the premier global businesses we have come across, but it’s really only in the past five years that a confluence of factors have come together to enable it to earn the returns commensurate with its global…
metamorworks In our previous analysis of QuidelOrtho Corporation (NASDAQ:QDEL), we focused on the company’s profitability, highlighting its lower-than-expected margins mainly due to a higher-than-anticipated depreciation with higher fixed assets and other non-operating expenses. However, we revised our forecasts while still expecting an improvement in average gross margins and reduced non-operating expenses in 2024, leading to…
The Good Brigade Overview My recommendation for Constellation Brands (NYSE:STZ) is a buy rating, as I continue to expect strong performance in the foreseeable future. The strong demand momentum seems to have continued into 1Q25 (1CQ24), which sets FY25 (CY24) to a very strong start. While Beer’s segment gross margin seems poor on a headline…
SolStock Thesis Gambling.com Group Limited (NASDAQ:GAMB) is a small-cap company that mainly focuses on affiliate marketing in both the U.S. and European markets, targeting iCasino and sports betting operators. In my perspective, considering the high growth rates of sports betting and online casinos in the U.S., GAMB is likely to benefit from the favorable environment…
JHVEPhoto Summary Moncler (OTCPK:MONRF) is a luxury brand retailer that serves a global customer base. The products they offer include multiple categories, such as outerwear, shoes, accessories, etc., for both women and men. Currently, MONC has two key brands: Stone Island and Moncler. The financial contribution between the two differs mainly in the split between…
Thomas Barwick Investment Thesis Since my last publication in December 2022, CrowdStrike (NASDAQ:CRWD) has delivered impressive FY24 results, driven by robust new customer acquisitions and increased module adoption. Furthermore, the company’s trajectory towards achieving GAAP profitability by FY25 underscores the strength of its profitable business model. With CRWD’s sustained sales momentum, I project a revenue…
SusanneB By Mark Barnes, PhD & Indhu Raghavan, CFA The relative performances of large-cap equities to small-caps in developed and emerging regions have tracked one another for the better part of the last decade. However, around early-2021 they began to diverge. Since then, developed large-caps have outperformed their small-cap counterparts, while in the emerging region,…
Nirian Investment Thesis Vanguard Global ex-U.S. Real Estate ETF (NASDAQ:VNQI) is a sell due to poor macro-level prospects for international real estate investment holdings. While the fund has a low expense ratio, substantial dividend yield, and a high amount of diversification, its poor performance has negated these positive qualities. Looking forward, investors will likely see…
cranach/iStock via Getty Images Fallen angels have significantly outperformed broader bonds and high-yield bond benchmarks for decades, as has the VanEck Fallen Angel High Yield Bond ETF (NASDAQ:ANGL). I last covered ANGL in mid-2023. In that article, I argued that the iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) was a slightly superior investment, due to…
BeritK/iStock via Getty Images In a short space of time, with a much smaller budget, Rumble Inc. (NASDAQ:RUM) claims to have built a mini Google’ in its most recent Q4 2023 Earnings call. It has expanded its portfolio focused on censorship-free content to include video, live-streaming, an advertising centre and since Q1 2024 it is…
halbergman Shares of Aurora Cannabis (NASDAQ:ACB) are down by more than 95% since three years ago. The marijuana cultivator is a shadow of its former self. Many of its cultivation and retail facilities in Canada were shuttered over the past few years to match its output capacity to the anemic demand in its core markets,…
franswillemblok/iStock Editorial via Getty Images Please note that all amounts are in CAD with the exception where it’s otherwise noted. Dear readers/followers, Since my last article on Fortis (NYSE:FTS), which by the way you can find here the stock hasn’t exactly outperformed. This update is for my latest article, which at this point is almost…
greenbutterfly In the Year To Date (YTD), Tesla, Inc. (NASDAQ:TSLA) is the worst-performing stock in the Nasdaq 100-Index (NDX in index form and QQQ in ETF form). The company’s line item performance in first-order (i.e., Year-on-Year) terms indicates that 2023 wasn’t quite as explosive as they were in the past two years. Source: Created by…
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…
Dilok Klaisataporn I’ve been bullish on CLO ETFs these past few years, due to their strong, above-average yields and performance track-records. The BlackRock AAA CLO ETF (NASDAQ:CLOA) is one of BlackRock’s forays in this area, with the fund focusing on AAA-rated CLO tranches. CLOA’s above-average 6.1% yield, strong performance track-record, and extremely low credit and…
Hiroshi Watanabe SPDR S&P Global Dividend ETF (NYSEARCA:WDIV) celebrated its tenth year of existence last year. It is a passively managed ETF that seeks to track the S&P Global Dividend Aristocrats Index and provide investors with a high-yielding portfolio of global companies in an ETF wrapper. The primary criteria for inclusion in the Index is…
xrrr/iStock Editorial via Getty Images Investment Thesis: I take the view that Swatch Group (OTCPK:SWGAY) is potentially undervalued at this time and could see upside back to the $16 level. I take a bullish view on Swatch Group. The Swatch Group is a famous Swiss manufacturer of watches and jewelry, and is the largest watch…
A-Ko-N/iStock via Getty Images Welcome to another installment of our BDC Market Weekly Review, where we discuss market activity in the Business Development Company (“BDC”) sector from both the bottom-up – highlighting individual news and events – as well as the top-down – providing an overview of the broader market. We also try to add…
Justin Sullivan/Getty Images News Investment Thesis Adobe Inc. (NASDAQ:ADBE) just reported its earnings for the first fiscal quarter (three months ended March 1st), and I think they did well. Revenue stood at a record of $5.18 billion. That’s pretty impressive. Now, a 12% growth rate (13% constant currency) might not sound a lot, but that…
Stuart Franklin/Getty Images News Investment Thesis I take the view that Volkswagen AG has the capacity for an upside to $18 based on strong growth in demand across the company’s electric vehicle offerings. In a previous article back in June 2022, I made the argument that Volkswagen AG (OTCPK:VWAGY) has the capacity for upside going…
AzmanJaka Medpace (NASDAQ:MEDP) is a fast-growing clinical research organization, focused on small biopharma customers, and is still founder-led by CEO August Troendle. Throughout the last year, particularly small biopharma companies increasingly faced financing issues due to the macroeconomic slowdown and rising interest environment. Additionally, we saw loaded inventories and therefore a normalization for equipment manufacturers….
Dilok Klaisataporn Long-time readers know I’ve been bullish on CLO ETFs since these first appeared on the market, due to their strong yields and effectively zero rate risk. Of these, the Panagram BBB-B Clo ETF (NYSEARCA:CLOZ) offers a particularly compelling 9.6% yield, with strong returns since inception, and since I first covered the fund. CLOZ’s…
Darren415 In this article, we provide an update on the PIMCO CEF (closed-end fund) suite. Specifically, we discuss the changes in leverage and distribution coverage. We also discuss the reversal of performance of the taxable funds so far this year, as well as changes in the funds’ swap portfolios. Coverage Update Muni distribution coverage renewed…
HJBC Introduction Amundi S.A. (OTCPK:AMDUF) recently reported its Q4 2023 results, which I will discuss below. I will also compare the company relative to one of its largest stock-exchange-listed European peers, DWS Group. In brief, I think that Amundi has little room for operational improvement (which is already superb). This coupled with its sizable tangible…
ugurhan Listen here or on the go via Apple Podcasts or Spotify. Rob Isbitts talks portfolio strategies, why he combines offense and defense and why he’s not a fan of the 60-40 approach (1:10). International markets and ETFs (13:47). Too much focus on stock picks and past performance (19:40). Transcript Rena Sherbill: Rob Isbitts, welcome…
PM Images/Stone via Getty Images Introduction By now, I doubt that it may come as a surprise to many readers when I say that I have started to like the midstream industry a lot in recent years. While the industry was total dead money before 2021 due to elevated capital spending and subdued income, it…
Pekic/E+ via Getty Images Introduction If you’re like the woman in the picture above and wondering where to invest your money, then look no further than Agree Realty (NYSE:ADC). Since first starting my investment journey and focusing on REITs, Agree Realty was one that really stood out to me. Although their big brother Realty Income…
andresr It’s been a year since my last analysis on Slate Grocery REIT (SGR.UN:CA). Stale Grocery has performed very well in the past year, however, its stock price and valuation haven’t kept up with its excellence operational results. Therefore, I continue to put a “Buy” rating on Slate Grocery, inching closer to a “Strong Buy”….
MediaProduction/E+ via Getty Images Investment Thesis Vanguard Total World Stock Index Fund ETF Shares (NYSEARCA:VT) warrants a hold rating due to its suboptimal performance as a result of extremely high diversification. While VT provides investors with a single fund to capture the returns of both developed and emerging markets, its diversification of over 9,000 holdings…
deepblue4you Below is an updated look at our popular table that highlights the performance of various asset classes using key ETFs (or ETPs) traded on US exchanges. For each asset class, we show its performance since COVID hit on 2/19/20, since the current bull market began on 10/12/22, and since the low last quarter on…
AntaresNS/iStock via Getty Images Introduction In the summer of 2022, I argued Glacier Bancorp, Inc. (NYSE:GBCI) was a well-run Montana focused bank, but I wasn’t willing to pay 3 times the tangible book value, or TBV, for the bank. Fast-forward to now, just over eighteen months later, and the bank’s share price has indeed come…
michal-rojek/iStock via Getty Images Investment Thesis Health Care Select Sector SPDR Fund ETF (NYSEARCA:XLV) warrants a buy rating due to its strong mix of holdings and track record of long-term performance. Additionally, the fund has the lowest expense ratio and highest dividend yield compared to three leading peer health care funds. Finally, the health care…
2027, When TD Bank Buys TELUS NurPhoto/NurPhoto via Getty Images On our last update on TELUS Corporation (NYSE:TU) (TSX:T:CA), we made a case to continue staying out of the wireless giant. At the center of our thesis was a bloated valuation and it was further supported by relatively weak earnings. We went with a “hold”…
deepblue4you FNDX strategy Schwab Fundamental U.S. Large Company Index ETF (NYSEARCA:FNDX) started investing operations on 08/15/2013 and tracks the Russell RAFI™ US Large Company Index. It has 730 holdings, a trailing 12-month yield of 1.82% and a total expense ratio of 0.25%. Distributions are paid quarterly. As described in the prospectus by Charles Schwab Asset…
Dan Kitwood Introduction This is the second article regarding the food delivery industry, and after talking about Just Eat Takeaway.com (OTCPK:JTKWY) it is now Deliveroo’s (OTCPK:DROOF) turn. I have already expressed in depth in the previous article many of the concepts and opinions about the industry in which these companies operate, which I invite you…
SeventyFour Investment Thesis Within the vast Real Estate Investment Trust (REIT) sector, there is a subsector that, in my opinion, stands out for its high quality, and that is self-storage. In this article, we will delve into why these businesses possess attractive qualities as investments and why Extra Space Storage (NYSE:EXR) appears to be one…
Coprid/iStock via Getty Images The Goldman Sachs Hedge Industry VIP ETF (NYSEARCA:GVIP) is a passively managed vehicle offering exposure to about 50 worthiest hedge-fund picks selected using quarterly 13F filings. This is a relatively simplistic yet nonetheless potent strategy with a respectable track record, though, as it always happens in investing, not a completely flawless…
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Santander expects its profitability to improve this year despite concerns about the health of the global economy, as the Spanish bank’s latest quarterly earnings were helped by a strong performance in Europe. Ana BotÃn, Santander’s…
Brandon Bell Investment thesis Our current investment thesis is: CMG is far too expensive for what it is. The company is trading at SaaS valuations with a <2% FCF yield and >30x EBITDA multiple. We believe Management is executing exceptionally well, delivering incremental improvements that are keeping investor sentiment positive, such as through “Chipotlanes” and…
Funtay Vital Energy (NYSE:VTLE) has continued to report production that has exceeded expectations, primarily due to the outperformance of its newer wells. This well outperformance has been a consistent theme with its 2023 production results and helps boost the value of the company. Vital has also significantly deleveraged with its various acquisitions and now should…
Ton Photograph 2023 is over, and with it my fourth year of publicly tracking my portfolio and its performance. It was anyone’s guess what the year would look like as the stock market came out of a significant downturn. Interest rates were still rising, inflation was still at the top of most people’s minds, and…
Nicolas Micolani Overview My recommendation for Constellation Brands (NYSE:STZ) is a buy rating as the beer segment performance continues to remain solid. I expect this performance to continue through FY25, with a possible chance of outperforming guidance in 4Q24 given the easy comp in 4Q23. Importantly, management has reset expectations for its Wine & Spirits…