Charles Brandes

Charles Brandes

Last Update: 2014-08-11

Number of Stocks: 161
Number of New Stocks: 22

Total Value: $8,270 Mil
Q/Q Turnover: 8%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Charles Brandes Watch

  • Charles Brandes' Top 5 New Stock Buys

    Charles Brandes (Trades, Portfolio) is the chairman of Brandes Investment Partners and former acquaintance of Benjamin Graham. In his second quarter letter he outlined his firm’s three underlying principles: price always matters, time in the market has trumped timing in the market and allocations in Brandes strategies reflect our focus on long-term business valuations.  

  • Honda Gets Ready to Report Its First Quarter Results

    In this article, let's take a look at Honda Motor Co Ltd (HMC), a $63.06 billion market cap company, which is one of the world's largest automobile manufacturers, and is the largest manufacturer of motorcycles, which operates in an industry that is so cyclical that in bad times even the best automakers could have problems.

    The Macro


  • Charles Brandes' Second Quarter 2014 Commentary

    Mid-Year Review: Staying on the Value Side of Market Swings

    Price Counts in Up and Down Markets


  • Charles Brandes' First Quarter 2014 Commentary

    Trading Value - Pursuit of Best Execution and Innovation

    This edition of the Brandes Quarterly Commentary offers an inside look at our trading team, and how its commitment to efficient, positive change in the marketplace helps serve our clients' long-term interests. An important part of the firm's commitment to best execution is our investment in The IEX Group (IEX), which we describe in detail below i .


  • Guru Charles Brandes’ First Quarter Top Holdings

    A disciple of value investing Guru Benjamin Graham, Charles Brandes founded Brandes Investment Partners in 1974. Brandes' funds continue to perform well, with both the Global Equity fund and the International Equity fund producing double digit returns over the past year.


  • Why This Telecom Colossus Is a Bright Investment Option

    Telefónica Brasil SA (VIV) is in the spotlight of the Brazilian telecommunications industry. Its best-in-class mobile network and its dominant position in Sao Paulo’s fixed-line market have enabled the firm to boast sustained growth in a market that has fallen over 8% year to date amid a weak economy and currency issues.

    The company ended 2013 with a fourth-quarter revenue increase of 5.1% thanks to a 6% growth of its mobile business. A 7% expansion of its postpaid base augmented its market share in this segment to 39.8%, which in turn resulted in a 5.1% increment of its ARPU, mainly driven by data revenue from smartphones and modem sales. Also, postpaid churn decreased by 30 bps to 1.5%. Data and value-added services boosted by 3.8% and minutes of use remained in the upswing, with 8.1% growth relative to the year-ago period.


  • Supporting Telecom Leadership from the Technological Forefront

    Nippon Telegraph and Telephone Corp. ADR (NTT) is at the zenith of the telecom business in Japan. The company has a 66.7% stake of NTT DoCoMo Inc. (DCM), the largest wireless service provider in the country with 62.2 million subscribers. And it also owns the two incumbent fixed-line operators, NTT East and NTT West, which account for a 50% market share. Moreover, it provides information and communications technology and data services, which the firm improved in 2010 by boosting its capabilities through the acquisition of Dimension Data and Keane.

    A Narrow Moat


  • New Paths to Growth Are Proving Hard to Find for This Grocery and Drug Retailer

    Based on sales, Safeway Inc. (SWY) is one of the largest North American food and drug retailers. The company operates a network of 1,335 stores in the U.S., two-thirds of which have in-store pharmacies. Moreover, many locations operate adjacent fuel centers and have Starbucks Corp. (SBUX) coffee shops. The firm’s new store format, called “The Lifestyle Store” provides customers with a better shopping experience and a vast array of grocery products, which is tailored to meet local needs and preferences. Further, Safeway has 49% ownership interest in Casa Ley, a general merchandise and Mexican food retailer which operates 185 stores in Mexico.

    Debt and Divestiture


  • Pioneer Investments Sold Out but You Should Buy This Stock

    Gurus do not always make the right decisions. In other words, gurus may at some point sell out a position on a stock that is bound to grow. That is the case of Pioneer Investment and Empresa Brasileira de Aeronautica (ERJ) who dropped the stock last December. Since then, the stock price has been on the rise and a special dividend ($0.09) payout was announced last Monday. Also, the company released the fiscal 2013 report at the end of February stating that main 2013 guidance figures, including aircraft deliveries, total revenues, as well as EBIT and EBITDA margins, were met. Results were achieved thanks to aircraft deliveries and growth in the firm’s Defense & Security segment.

    Today, the gurus holding the largest stock positions in the company are Charles Brandes (Trades, Portfolio) and Ken Fisher (Trades, Portfolio). Can Embraer continue on the growth path?


  • A Closer Look at Advanced Micro Devices´ Debt Profile

    I like to keep a close eye on the developments of the technology industry. Sometimes, I come across interesting investment options, like Advanced Micro Devices (AMD). Although I take many aspects into account when I analyze a company, I will focus, in this article, on debt and liabilities. This company has been in the market for a decade, dedicated to designing and producing microprocessors and low-power processor solutions for the computer and electronics industry.

    As Intel Corporation (INTC)’s low-cost alternative, this company has been struggling to gain a substantial market share and the struggle will likely continue in the future. However, the underdog’s superior graphics technology has given it a differential value. Furthermore, the company is set on entering the embedded and semicustom processor market, in order to diversify revenue income. Microsoft Corporation (MSFT)’s Xbox One and Sony Corporation (ADR) (SNE)’s PlayStation 4 game consoles, for example, already feature the company’s semicustom processors.


  • Charles Brandes' Top Year End Stocks

    A disciple of value investing Guru Benjamin Graham, Charles Brandes founded Brandes Investment Partners in 1974. Brandes' funds continue to perform well, with both the Global Equity fund and the International Equity fund producing double digit returns over the past year.

    Over the fourth quarter, Brandes bought 18 new stocks bringing his total number of stocks held to 169. The guru’s portfolio is currently valued at over $8.1 billion.


  • Charles Brandes Fourth Quarter Review

    Year in Review: The Benefit of Perspective 

    Amid Market Cycles, a Singular Focus on Value 


  • Should You Bet on Cemex's Shares?

    Cemex (CX), the formerly over-leveraged Mexican cement company, is up by 10% during the last 12 weeks and I believe the best is still to come. As a matter of fact, I think there is plenty of room for further upside. In 2014, a strong growth of the cement market in Mexico added to Cemex's significant investments in the growing U.S. market, plus a sensible stabilization of the overall European cement market (the Northern European market is already growing fast), will give investors enough reasons to buy. Results are still weak and the company is still too leveraged, but profitability and indebtedness figures should start ameliorating fast in the coming years.

    Third Quarter Results


  • Five-Year Lows: Science Applications International Corp, Grana y Montero SAA, Piedmont Office Realty Trust Inc. and OiSA

    According to GuruFocus list of 5-year lows, these Guru stocks have reached their 5-year lows: Science Applications International Corp, Grana y Montero SAA, Piedmont Office Realty Trust Inc, and OiSA

    Science Applications International Corp (SAIC) Reached the Five-Year Low of $32.20


  • Brandes Funds Annual Report 2013

    Dear Shareholder:

    Amid a banner period for international equities, the net asset value of the Brandes International Equity Fund (Class A Shares without sales charge) increased 26.06% during the 12 months ended September 30, 2013. For the same period, the Fund's benchmark, the MSCIEAFE Index, rose 23.77%. In this letter, I will discuss sector-, country- and stock-specific factors that affected the Fund's performance and describe changes in its composition during the fiscal year.  

  • Telecom Italia's Next Deal

    When Madrid based Telefonica (TEF), which is held by Charles Brandes and Mario Gabelli, decided to take control of Telco, the company which exercises de facto control over Telecom Italia (TI) with its 22.4% stake, it was clear that the over leveraged Italian company would have to do something about its Latin American assets.

    Last month, the former Italian monopoly decided to sell its stake in Telecom Argentina (TEO) to the Mexican investor David Martinez for just about $1 billion. Now, the Brazilian antitrust regulator is telling Telefonica to either reduce its investment in Telecom Italia, which controls TIM Brazil, or sell a stake in its Brazilian business, Vivo. The reason is clear. Vivo and TIM Brazil control over half of the country's mobile market. Most probably, the solution will come from Telecom Italia's side. I think the Milan-based company will finally decide to sell TIM Brazil in order to keep reducing its debt pile. That said, is selling TIM Brazil a good thing for Telecom Italia's shareholders?  

  • Charles Brandes Q3 Commentary - Emerging-Markets Concerns Rising — So Are Select Opportunities

    Uncertainties Create Potentially Attractive Valuations for Stock Pickers

    Executive Summary  

  • Six Sells in Review - The Charles Brandes Third Quarter Update

    The third quarter portfolio of Brandes Investment, managed by Guru Charles Brandes, shows 42 reductions and sellouts combined. The recent Brandes’s portfolio lists 172 stocks, 27 of them new, and a total value at $7.76 billion. The quarter-over-quarter turnover is 5%. The portfolio is weighted with financial services at 20.8%, technology at 19.7% and communication services at 16.6%. Charles Brandes is averaging a return of 9.29% over 12 months. In 2012, he returned 18.54% against the S&P 500’s 15.4%.

    Here’s a review of six of Brandes’s sells, as of Sept. 30, 2013.  

  • Guru Charles Brandes' Third Quarter Top Holdings

    A disciple of value investing Guru Benjamin Graham, Charles Brandes founded Brandes Investment Partners in 1974. Brandes' funds continue to perform well, with both the Global Equity fund and the International Equity fund producing double digit returns over the past year.

    Over the third quarter, Brandes bought 27 new stocks bringing his total number of stocks held to 172. The guru’s portfolio is currently valued at over $7.7 billion.  

  • One Telecom Trade to Consider

    Despite its high leverage and its troubles at its home market, I have liked Madrid-based Telefonica (TEF), which is held by Charles Brandes and David Dreman - for over a year now. The reason was simple: My estimated value for Telefonica was well below its stock's price. The value of its Latin American operations (over 50% of the company's top-line) provided some support for the company's profitability level while its strategy of cutting debt through asset sales (such as the sale of its O2 UK broadband business and 40% of Telefonica Central America) was working even better than I had initially expected. Apparently, the market recognized Telefonica's value since the shares are up by 30% year to date. As a direct result of the surging stock price, Telefonica's price is not as attractive as it used to be. The company now trades at 10.8% 2014 adjusted equity free cash flow yield and 5.7 times EV/EBITDA.

    A Deal with Trans-Atlantic Consequences  

Add Notes, Comments or Ask Questions

User Comments

No comment yet

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
Email Hide