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  • Comment for Sonic Healthcare Ltd (ASX:SHL) Historical Data of Short Interest, Institutional Ownership, and Insider Ownership

    Consider getting into this stock. It shows solid growth  

  • Home Improvement Retailer Home Depot’s Q4 2014 Earnings: What You Need to Know

    Home Depot (HD), the world’s top home improvement retailer, came out with fiscal 2014 fourth quarter and full year numbers on February 24, setting stock price surge of 3.7% in afternoon trading as it posted better than anticipated numbers. The retail mammoth is among the lucky few who have been benefiting from the improving U.S. housing and job market. Average Americans had more disposable income to spend on home renovations and other work and this made way for more business. Let’s take a look at the retailer’s latest earnings release to get some insight about its performance.

    How was the retailer’s performance?

  • Promising Numbers for the Hedge Fund Industry

    Hedge funds are a broad group of investment vehicles pursuing a wide variety of investment strategies. Last year, while the S&P 500 surged about 13% in 2014 due to gains in consumer confidence and housing rebound in the U.S., hedge funds left well behind.

    Volume and Performance


  • How A320 Production Hike Can Help Airbus in Its Fight Against Boeing

    European aero major Airbus (EADSY) is thinking of ramping up the production rate of its much popular A320 on the back of robust demand for narrow bodies. The company is in talks with its suppliers regarding the possibility of a production hike as early as 2017. Thanks to lower expenditure on fuel, consumers have more disposable income which they are using to fund air travels. Even airlines are booking better profits. All these things have come together to boost air travel like never before. Let’s analyze this latest development to understand why it’s important to Airbus and how this might impact it in the long run.

    Airbus A320neo, Picture from Airbus


  • Union Pacific - An Industry Value

    Union Pacific (UNP) is a current pick of GuruFocus’ Undervalued Predictable Companies screener. With a decades long history of improved financial performance, UNP shares have shown an ability to heftily outpace the market over the long term.


  • Suggest A Guru

    Mark H. Rachesky of MHR management might merit consideration. He is an Icahn disciple. Another is Keith Meister of Corvex Capital.


  • Interview With Mark Hennerman of Long Term Investing Mairs & Power

  • Should You Buy the Mutual Fund Company Instead of the Funds?

    It’s been said there’s more money to be made investing in mutual fund companies than investing in actual mutual funds.

    That may be the case for Waddell & Reed Financial, Inc. (WDR), unless you bought it at the wrong time; the stock has taken quite a plunge in the past year. This drop in price, combined with its history of consistently growing earnings, gives WDR a place on the Buffett Munger screener at GuruFocus. The following chart shows the company’s share price (green line) and its EBITDA (earnings before interest, taxes, depreciation, and amortization):


  • Daniel Loeb's Comments on Fanuc

    During the fourth quarter we invested in Fanuc ( FANUY), the leading factory automation and robotics company in the world with a market capitalization of $33 billion and an enterprise value of $25 billion. Based in Japan and spun out of Fujitsu in the 1970’s, Fanuc is a unique company with a long history of being the best and fastest to market in everything it does. Its visionary founder describes the Company’s mission as “walking the narrow path,” which refers to its relentless focus on producing only a limited number of products that are technically superior with the lowest possible cost structure. This targeted innovation combined with a strong emphasis on reliability and service has made virtually all of Fanuc’s products blockbusters. While serving completely different, cyclical markets, Fanuc reminds us of Apple in its product approach.

    In its core Factory Automation division, Fanuc has capitalized on structural growth in automation by creating a huge moat in Computerized Numerical Control (“CNC”) systems and servo motors. It has become the global standard for machine tool control software and motors with a worldwide market share of 60%. The Company has built a global service/aftermarket support organization that is unrivaled by competitors in a business where switching costs are high. The division’s revenue correlates closely to Japanese machine tool orders, which are on the rise for multiple reasons including strong demand from the US and a depreciating yen. Additionally, Chinese factory automation is a substantial growth opportunity as rising wages, low productivity, and quality issues force companies in the region to automate. To get a sense of the opportunity: China’s CNC penetration rate of 30% today equals Japan’s levels 40 years ago. Fanuc is expanding CNC capacity by 40% in the next twelve months to meet these higher demand levels. Fanuc’s Robots division has achieved a cumulative sales growth of 60% in the past two years, capitalizing on a robust opportunity set across all major economies. In China, automotive industry robot density is still at less than 15% of the levels seen in Japan, while general industry robot density is at less than 5% of Japan’s. In Japan, capital equipment replacement demand, some re-shoring of manufacturing and labor shortages are creating multiple drivers for robot demand. The resurgence in US manufacturing is also providing strong demand, as automotive and general industry customers are increasing orders for lifting, picking, welding, painting, and dispensing robots. Virtually every large manufacturing footprint expansion in North America – from Airbus to Ford to Tesla – is taking place with Fanuc’s robots. Fanuc’s internal development of low cost full artificial vision systems and collaborative robots makes it best positioned to drive adoption in industries that have traditionally been unable to automate. We think that these innovations will double the size of the Robots division in only a few years.


  • Bloomberg: Irving Kahn, Investor Who Profited in ’29 Crash, Dies at 109

    Irving Kahn (Trades, Portfolio), Investor Who Profited in ’29 Crash, Dies at 109  

  • There Is More To Low Commodity Prices Than A Strong Dollar

    The decline in commodity prices witnessed in the latter months of last year seems to have extended to 2015. There was a slight kickback in January by some of the commodities that plunged last year, but that seems to be fading off. In fact, oil seems to be the one commodity on recovery but according to several analysts, this could just prove to be a moment and nothing more.

    Generally, commodity prices are inversely linked to the strength of the U.S. dollar, which means a strong dollar would lead to low commodity prices. Now everyone knows this, but what has happened over the last several months has nothing to do with a strong dollar, at least; the majority of the decline in commodity prices can be attributed to other factors.


  • An Improving Market for Trucks Will Help This Stock Deliver Upside

    Navistar International (NAV) reported another excellent quarter for sales of used trucks. On a year-over-year basis, there was 18% growth in sales for Navistar for the entire year.

    Making the right moves


  • A Few Reasons to Invest in This Technology Stock for the Long Run

    Integrated Device Technology (IDTI) had a strong finish to the quarter delivering solid improvement across all its key financials. The company is seeing good traction for its products in the market, and the success of these products is giving strength to its growth momentum. The company is expected to perform very well in the coming quarters. It is seeing key opportunities with the technological advancement and is seeing favorable ASP trends and demand ramp up in the 4G infrastructure. It has an impressive product pipeline which also seems well positioned to bring in new products in the market in the future. Let us have a detailed insight of the overall business of the company.

    Quarterly performance


  • Why This Oil Company Is a Good Buy Despite Weak Results

    Carrizo Oil & Gas (CRZO) reported not-so-impressive results in the fourth quarter. The company did deliver improvement in the revenue on a quarterly basis, but the stock has lagged so far as the analysts didn’t receive the results positively. The management, however, is pleased to see good growth in the production which it thinks can help it to regain its lost ground. It is now focusing on some key areas to manage the downturn. The company’s strategy looks concrete, and analysts will likely see Carrizo recording decent numbers in the coming fiscal year. Let us have a look at whether Carrizo is worth your dollars.

    Overview of the results


  • Paul Tudor Jones and His Top 5 Positions by Market Value

    Recently hedge funds have been filing their form 13-F, which is a quarterly report of equity holdings by filed institutional investment managers with at least $100 million in equity assets under management, as required by the United States Securities and Exchange Commission (SEC). In this article, let´s concentrate on Paul Tudor Jones (Trades, Portfolio) II, who is the president and founder of Tudor Investment Corporation, a private asset management company and hedge fund. As of March 2014, his net worth was $4.3 billion according to Forbes estimates.

    Recently the fund reported its equity portfolio, as at the end of December. The total value of the portfolio amounted to $1,855 million, up $115.99 million disclosed at the end of the previous quarter. The filing revealed that, at the end of December, the fund added 411 new positions to its equity portfolio and sold out 322 positions. The top ten portfolio holdings as of the end of the quarter represented 19.68%. The largest changes from previous 13-F fillings are in the financials and technology sectors.


  • Oh là là! Looking for Dividend Yield? Explore France

    This is scary time to be investing in Europe. With the Greek debt crisis kicked down the road for another four months and with most of the Eurozone dangerously close to slipping into deflation, investors have been parking their cash on this side of the Atlantic.

    But investors flocking to American shores for the perceived safety are setting themselves up for disappointment, particularly when it comes to dividends. The U.S. is one of the lowest-yielding markets in the world at today’s prices. An investment in the iShares Core S&P 500 (IVV) will get you a dividend yield of just 1.88%.


  • Airbus Fiscal Year 2014: The Key Highlights You Need to Know

    French aircraft manufacturer Airbus (EADSY) reported its fourth-quarter 2014 and full year results. The company’s profits came in pretty strong despite issues with the A400M military aircraft delay. It recorded the highest ever deliveries. While unveiling its key numbers, Airbus also disclosed its plan to boost the A320 production rate in the near future. Let’s dive into the number pool and see what it has to say.

    Into the numbers


  • This Leading Global Manufacturer Is Good For Investors’ Portfolio

    Well known companies most of the time provides a solid return to its customers. But, there are some lesser known companies that are performing well and is poised to grow further. Founded in 1967 and is headquartered in Evansville, Indiana, Berry Plastics Group (BERY) is one of those lesser known companies.

    With a long-standing track record of delivering high-quality customized solutions to its customers, this leading global manufacturer and marketer’s products are designed utilizing proprietary research and unique development and manufacturing technologies. Berry Plastics' products include drink cups, thin-wall containers, bottles, specialty closures, prescription vials, specialty films, adhesives and corrosion protection materials. The company operates in four operating segments: Rigid Open Top and Rigid Closed Top, which sells primarily containers, foodservice items, closures, overcaps, bottles, prescription containers, and tubes; Engineered Materials, which sells pipeline corrosion protection solutions, tapes and adhesives, PE (polyethylene)-based film products and can liners; and Flexible Packaging, which sells high barrier, multilayer film products as well as finished flexible packages such as printed bags and pouches. As per the company website, Berry Plastics has acquired more than 30 businesses since 1988, and serves over 13,000 customers, ranging from large multinational corporations to small local businesses.


  • An interpretation of the Herbalife result

    The Herbalife result had three elements - two bad, one good.

    The bad elements are

    (a). That volume fell - and quite sharply - minus 6 percent, and

    (b). There was an inventory build in the face of the volume fall.

    The shorts have played these elements up - and combined they meant that the cash flow was sequentially far less good.

    The good element (which the company played up) was

    (c). distributor numbers and retention went up sharply.

    In the past distributor numbers and volume have been very tightly correlated.

    They are no longer tightly correlated.

    Inevitably they will become correlated again - but the question is which direction. Will volume growth rise to match distributor growth or will distributors leave disillusioned?

    On this the Herbalife debate will hinge. [The bears will argue the FTC will also be an issue - but I doubt that strongly.]

    An interpretation of the results in the light of Herbalife corporate rule changes

    The company implemented three core rule changes which were trialled first in Eastern Europe and which I have cross checked with some Eastern European distributors.

    These are

    i). Requiring that you qualify as a distributor slowly - ie there are no 4000 point success builder orders any more. Note that this rule change slows orders down.

    ii). Requiring that the first qualification not be by "field sales" - you must buy from the company (note this slows orders down in Mexico and other countries for reasons that will be seen below).

    iii). Requiring that if you sell via a website you do it under your distributor label (you get paid) on the site. A delivery is then made direct to the customer obviating the need for the distributor to hold any inventory - and hence allowing de-stocking of distributor inventory and thus slowing current sales.

    Why these rule changes

    There are several reasons they implemented these rules.

    One reason is that if a distributor qualifies as say 4*$1000 orders she is more likely to stay around than a distributor qualifying by a single $4000 order. The upline can then focus training on distributors who are more likely to stick around. This means new distributors become more effective.

    A second (and possibly more important reason) is that they are very good at fending off Ackman's complaints. Slowing initial orders is antithetical to inventory loading (and inventory loading a required component of declaring Herbalife a pyramid). More importantly the third rule change obviates the need for any distributor inventory - and is a complete protection against a claim that Herbalife is a pyramid.

    A third reason is about control of the business - particularly in developing markets. For example, in Mexico the up-line distributors have built warehouses all over the country - there are three Chairmans Club members who own the warehouses. The Chairmans club members can distribute Herbalife to you same day anywhere in the country almost everywhere - even with crappy Mexican logistics.

    This is good for Herbalife (as they get lots of sales) but they are a risk for Herbalife - in that the Chairman club members might defect to a competitor taking their warehouses, customers and downline with them.

    To "own" the customers Herbalife wants distributors to qualify with sales direct from the company. They are banning "field sales" for qualification.

    Moreover Herbalife is building its own warehouses over the country. As it does this its distributor warehouses are being (to a small extent) de-stocked and its own warehouses are being stocked. The de-stocking of distributor warehouse is a drain on current sales and the stocking of its own is a costly inventory build.

    All of these things should (i) make Herbalife stronger and (ii) explain the falling sales, increasing inventory and simultaneously increasing distributor numbers.

    And if this interpretation is correct Herbalife should come back growing volume with a vengeance.

    This is a deferred growth story.



  • Boston Beer Company Falls Short Of Analyst Expectation

    Boston-based Boston Beer Company (SAM), very popular for its Samuel Adams beer, announced its fourth-quarter earnings on Feb. 24, 2015.

    Quarter numbers


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