Samstag, 18. März 2017

Deep Value Investment Fund

According to the description:
"A small cap fund that looks for unloved companies priced at a discount to their liquid assets. Largely UK weighted, the fund has a bias to the service sectors."

Companies mentioned in the March 2017 fact sheet:
Lamprell plc
Sanshin Electronics
Indigivision Group
PV Chrystalox Solar
H&T Group
B P Marsh & Partners
Hydrogen Group
Thalassa Holdings
Hargreaves Services
McKay Securities
Bovis Homes Group
Enteq Upstream 

Mittwoch, 15. März 2017

Prof. Damodaran - Good Companies vs. Bad Companies

Prof. Damodaran writes about why good companies can be a bad investment and why bad companies can be a good investment - a paradox.
In the post is a nice matrix about valuations and multiples for screening:

Related to this is the post of November 2015 when Prof. Damodaran evaluated Valeant at $32.50. Then the stock price was $15, now the stock price of Valeant is $11.

Samstag, 11. März 2017

Dorfman - How to Catch a Stock at an Inflection Point

John Dorfman writes about stocks that are still cheap but are getting better.

Selection rules:
  1. Stock is in the U.S.,  market value > $250 million.
  2. Stock’s price < 15 PE.
  3. Earnings in last Q > +15% vs a year ago.
  4. Latest reported earnings were higher than analysts expected.
  5. Company’s total debt < 50% of the net worth.
Selected companies:
CVS Health Corp. (CVS)

American Outdoor Brands Corp. (AOBC)

Investors Title Co. (ITIC)
Gannett Co. (GCI)

AllianceBernstein Holding LP (AP)

Sonntag, 5. Februar 2017

Books - History

  • Harold James: The end of Globalization