Beware Of False Bargains
Date: March 29, 2022
For discerning stock pickers who focus on valuation and catalysts, there could be real value amid the recent stock market carnage. Just because a stock soared to heights in the recent past doesn’t mean it will ever reach them again. But having a sense of how the intrinsic value of a stock compares to its current price can tell you something about whether it’s a bargain—and how much of a bargain it might be. In the long-run company fundamentals (strong cash flows, earnings growth, and sustainable competitive advantages) is what matters most for valuation, not price movements. Keeping this information in mind when making decisions to buy and sell is the key to successful investing.
Neil Vogel, CEO of Dotdash Meredith on how they became the largest publisher in the United States and why they can now compete with both Google/Facebook plus much more…
Date: March 10, 2022
How Dotdash in a relatively short period of time became the largest publisher in the United States. IAC's recent acquisition of Meredith and why he believes they now have the scale to effectively compete against Facebook and Google Lessons learned from working with media mogul Barry Diller. The future of print magazines and why Dotdash is intentionally shrinking their subscriber base. The tremendous licensing opportunities they intend to take advantage of. A potential spinout of Dotdash from parent company IAC.
Investing Amid Uncertainty and The Importance of Staying the Course
Date: March 04, 2022
As we advised our clients in the aftermath of 9/11, during the 2008 financial crisis, and again in March 2020, when COVID was raging and the stock market was tanking, the most important thing investors can do during a crisis is to simply not panic. Stock market history supports this assertion. Dreman Value Management examined the major geopolitical events since World War II and found that on average the Dow Jones Industrial Average was 16.40% higher 1 year later and 32.7% higher 2 years later.
The Wall Street Journal’s Spencer Jakab on the real winners of GameStop mania, Robinhood’s role in encouraging stock speculation (and how it came very close to bankruptcy), and how Chamath Palihapitiya and Elon Musk fueled the flames of the whole debacle.
Date: February 17, 2022
Share it on: The Interview Discusses: His fascinating new book, The Revolution That Wasn’t: GameStop, Reddit, and the Fleecing of Small Investors. Robinhood’s unique business model and whether Robinhood has “democratized” finance as it claims. How Robinhood came very close to the brink of insolvency. The role of “influencers” like Chamath Palihapitiya, […]
Boyar’s Scotts Miracle-Gro Investment Thesis
Date: February 07, 2022
Jonathan Boyar discusses our investment thesis for Scotts Miracle-Gro (SMG) with Andrew Walker on the Yet Another Value Podcast. Some of the topics discussed were: SMG’s brands Coca-Cola like market share due to their well-known brands SMG’s ability to increase prices as a result of having a great consumer franchise SMG’s cannabis strategy via their […]