Value Investing Bad 10-Ks vs. Good 10-Ks: 11 Annual Reports I Recommend Reading — Gannon on Investing |
- Bad 10-Ks vs. Good 10-Ks: 11 Annual Reports I Recommend Reading — Gannon on Investing
- Long Pitch for $BWP to 2x
- What is your favorite 10-K that you recently read?
- Is Berkshire Hathaway Too Big to Beat the Market?
- Airbus Group?
- FactSet or Bloomberg?
- Anyone familiar with the Pet Service Industry?
- Betting on the Best: Alphabet (Tilson Funds)
- Valeant debt paydown
| Bad 10-Ks vs. Good 10-Ks: 11 Annual Reports I Recommend Reading — Gannon on Investing Posted: 02 Mar 2018 03:43 PM PST |
| Posted: 03 Mar 2018 01:58 AM PST |
| What is your favorite 10-K that you recently read? Posted: 02 Mar 2018 10:34 PM PST |
| Is Berkshire Hathaway Too Big to Beat the Market? Posted: 02 Mar 2018 06:06 PM PST |
| Posted: 02 Mar 2018 07:37 PM PST My girlfriend works for a subsidiary of Airbus group. Right now is their annual "subscription" period, where employees can buy shares at a discount. If they only buy a few, it's close to a 50% discount, and the discount decreases as the quantity they buy goes up; I think if they buy 100 or more it's a 25% discount. For the amount she was thinking of buying, it would be a 32% discount IIRC. They have to hold the shares for five years before they can sell. It seems like a pretty good deal to me, company has been around for a while, and gets favorable treatment from the government. While there might very well be some volatility over the next five years, it seems unlikely (to me) that it would lose more than 32% of its value in the long term. What would be some "red flags" to look out for when trying to analyze whether it's a good value? [link] [comments]  |
| Posted: 02 Mar 2018 01:35 PM PST My school is currently offering courses in both programs. I want to pick the one that is most common in the security analysis field, perhaps the on you've come across the most in your professional career. Any insight or recommendation would be super helpful. [link] [comments]  |
| Anyone familiar with the Pet Service Industry? Posted: 02 Mar 2018 07:32 AM PST Hi all, I am looking to learn a lot about the pet industry. This may involve pet services such as insurance, grooming, training, etc as well as food providers (like Blue Buffalo that was just acquired). Is anyone following any interesting pet related stocks? [link] [comments]  |
| Betting on the Best: Alphabet (Tilson Funds) Posted: 02 Mar 2018 08:04 AM PST |
| Posted: 02 Mar 2018 05:23 AM PST Riddle me this (just very basic, back of the envelope stuff):
1) Valeant has $25.7 of LT debt 2) Maturities are:
3) 2017 revenues were $8.6 bn 4) Interest payments are $1.6 bn / year 5) CFO has been around $2.0 - $2.2 bn past 3 years 6) 2017 FCFF approx. $2.6 bn
If we start from the FCFF figure, we'll have $1 bn / year stashed away after interest payment. That builds up to $3 bn by 2020, so that maturity is sorted, but what about the $22.8 bn that's afterwards?
Given that their revenues are unlikely to grow at a rate to cover the debt, it seems to me that they'd have to sell either Salix (which was actually on the table for $10bn late 2016), or B&L. I'd guess Salix would be the more palatable option.
If they sell Salix for $10 bn, they lose $1.6bn of revenues. Say after the sale their FCFF is $2.1 bn (just going by the same ratio of FCFF/revenues as now), their new interest payment would be $1 bn, so between now and 2025 they could put aside $8bn for debt repayments. Still not completely out of the woods, but at least it's a much more manageable scenario.
Alternatively they could sell equity, but not sure if there would be any demand for that.
Any flaws in the above? Am I missing something here? [link] [comments]  |
| You are subscribed to email updates from Value Investing. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment