Home Depot Is Overvalued Despite the Recent Share Price Pullback

On February 21, Home Depot (HD) released Q4 and FY2022 results (January 29, 2023 FYE) and FY2023 guidance. Management expects 2023 to be a year of moderation and is targeting approximately flat comp sales and a mid-single-digit percent decline in diluted EPS compared to the prior fiscal year. This guidance has not been well received [...]

By |February 22nd, 2023|Equity Investing|Comments Off on Home Depot Is Overvalued Despite the Recent Share Price Pullback

Rollins – Pests Are Indifferent To Economic Conditions

Fortunately for Rollins (ROL), pests are indifferent to economic conditions. It generates ~80% recurring revenue and boats 20+ years of revenue growth. I last reviewed this holding in my November 19, 2022 post. With the release of FY2022 results following the February 15 market close, I revisit it to determine whether I should acquire additional [...]

By |February 20th, 2023|Equity Investing|Comments Off on Rollins – Pests Are Indifferent To Economic Conditions

West Pharmaceutical’s Valuation Is Unattractive

How times have changed after my November 25, 2022, Buy Out Of Favour West Pharmaceutical post! In that post, I noted that West Pharmaceutical's (WST) short-term headwinds had led to its valuation retracing to a reasonable level and that I had initiated a 100-share position @ ~$225/share in one of the 'Core' accounts within the [...]

By |February 17th, 2023|Equity Investing|Comments Off on West Pharmaceutical’s Valuation Is Unattractive

S&P Global – Attractive Long-Term Outlook Despite Short-Term Ratings Division Headwinds

I last reviewed S&P Global (SPGI) in my October 31, 2022 post at which time I considered shares to be attractively valued. It continues to have an attractive long-term outlook despite short-term Ratings Division headwinds. However, shares are not attractively valued. I like to accumulate shares in great companies when they experience short-term headwinds; SPGI [...]

By |February 10th, 2023|Equity Investing|Comments Off on S&P Global – Attractive Long-Term Outlook Despite Short-Term Ratings Division Headwinds

Stryker No Longer Fits My Risk Profile

I would have preferred to wait for the release of Stryker's (SYK) FY2022 Form 10-K. However, I have sufficient information in its January 31, 2023 Q4 2022 Form 8-K and the Form 10-Ks from prior years by which to make an investment decision. In this post, I point out several observations that convinced me SYK [...]

By |February 8th, 2023|Equity Investing|Comments Off on Stryker No Longer Fits My Risk Profile

Expect Consistent Growth From Intercontinental Exchange

With 17 consecutive years of record revenues, operating income, and adjusted EPS, expect consistent growth from Intercontinental Exchange (ICE). When I last reviewed ICE, it had just released Q2 and YTD2022 results. I now revisit it given the February 2, 2023 release of Q4 and FY2022 results and 2023 guidance. Business Overview Part 1 of [...]

By |February 3rd, 2023|Equity Investing|Comments Off on Expect Consistent Growth From Intercontinental Exchange

January 2023 Investment Holdings Review

Subsequent to publishing my Investment Holdings Review in this July 2, 2022 post, market conditions have radically changed. In addition, I have exited a few positions and have increased my exposure to several companies. Furthermore, the strengthening of the US dollar relative to the Canadian dollar has impacted the rankings. My underlying reason for performing [...]

By |February 1st, 2023|FFJ Portfolio Holdings|Comments Off on January 2023 Investment Holdings Review

FFJ Portfolio – January 2023 Report

This brief FFJ Portfolio - January 2023 Report is an overview of recent activity. Most of the companies I follow are apprehensive about the business outlook in the first half of 2023. However, their recent share price behaviour does not reflect management sentiment. There appears to be a disconnect and I think we witnessed a [...]

By |February 1st, 2023|FFJ Portfolio Holdings|Comments Off on FFJ Portfolio – January 2023 Report
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