This is my 2018 semi-annual recap and June 2018 dividend income update on the FFJ Portfolio. This portfolio was created in January 2017 for the purpose of demonstrating how investing in well managed companies with competitive advantages can assist investors in reaching their long-term financial goals without the need to speculate or to chase dividend [...]
Paychex (PAYX) released its Q4 and FY 2018 results and FY2019 guidance on June 27, 2018. This is a follow up to my March 27, 2018 article at which time I indicated I would initiate a position and hold the shares in the FFJ Portfolio. Introduction My wife and I had the good fortune of [...]
Summary Ingredion has pulled back ~25% from its 1 year high of $146.28 set late January 2018. When Q1 results were released, management lowered its FY2018 adjusted EPS guidance from that provided when FY2017 results were released. It is facing headwinds in the form of higher production costs caused by inconsistent demand in the US [...]
The following is a list as at June 24, 2018 which reflects all the companies in which my wife and I own shares (not just those in the FFJ Portfolio). It does not reflect the number of shares per company we own nor our average purchase price. [...]
Summary Brown-Forman (BF) is a high quality company which has richly rewarded shareholders over the years. BF is a classic example of why exclusive reliance on stock screeners to identify investment opportunities is short-sighted. The company faces uncertainty as a result of foreign countries imposing retaliatory tariffs in response to ill-advised tariffs announced by the [...]
FedEx (FDX) released its Q4 and FY2018 results on June 19, 2018. The heightened risk of protectionism is counterproductive to economic growth and could negatively impact FDX's business in the short-term. In addition, Amazon's entry into the package delivery service industry is a risk FDX must contend with. FDX, however, is a well run company [...]
“You have not lived today until you have done something for someone who can never repay you.” - John Bunyan My articles typically revolve around investing money to create more wealth. Today’s article, however, touches upon the meaningful ways of sharing the wealth you create with those less fortunate. I share my family’s story [...]
Summary ADP reported Q3 results May 2 in which it announced an upward revision in its FY2018 outlook.’ At the June 12th Investor Day, ADP indicated it is accelerating the pace of margin expansion and it now targets its prior 3 year margin targets to occur one year sooner. The anticipated increase in interest rates [...]
Summary SJM is facing headwinds and revenue growth and profit margins are expected to remain under pressure amid a competitive environment and challenging retailer dynamics. SJM is currently exploring the divestiture of its US baking business and a sale of this business will likely impact FY2019 projections. Shareholders have been aptly rewarded over the long-term [...]
Summary Cummins has retraced ~26% from a high of ~$194 set at the end of January 2018. The company is forecasting strong revenue growth but warranty costs are taking a bite out of profits and further significant charges (~$400 million) are possible. CMI’s 15+ year returns greatly exceed that of the S&P500. While CMI has [...]
