Published: May 29, 2015
Buying an industry leader trading at trough valuation due to technology transition. Upside in the stock will be driven by a re-rate of its earnings multiple to a less steep discount relative to its tech sector peers, once its core business stabilizes and its growth initiatives start to take hold.
Published: March 06, 2014
I believe there are several catalysts which will allow long-term shareholders to realize value in the stock over the medium term. An improvement in product mix towards high margin software sales should lead to the bottom line outgrowing revenue. Additionally, the company will benefit in the futur...
Published: October 04, 2013
Oracle is a great company at a great price. As management continues to return their $14bn in free cash flow to shareholders in the coming years the stock should re-rate materially higher. Attached is a write-up that is intended as a high-level overview of the company and discussion of why the sto...
Published: January 14, 2013
Dell is a dirt cheap, misunderstood company (not primarily a PC company, and not a fixed cost one at that), and there is a good chance Michael Dell will take it private.
Published: September 05, 2012
There will be no highflying heroics in my idea. Just standing under the bucket consistently and reliably hitting three point layups. Yes, three point layups. Buying a great company at a fair price that will grow over time is a two point layup and a reliable and consistent path to investment succe...
Published: August 10, 2012
Despite being among the leaders in its respective industry, HP’s trading multiple is at a steep discount to most technology companies. HP is trading at historical lows despite being significantly larger as measured by revenues
coupled with improved operating performance.
Published: August 09, 2012
We do find some irony in the fact that a company (FCN) that is supposed to have “expertise” in corporate valuation makes valuing their own company very ambiguous. It almost useless to look at the income statement or managements claims of free cash flow or EBITDA. They simply don’t reflect their t...