After ~38 years of investing, I have lost count of my errors of omission and commission. Intuitive Surgical (ISRG) has to rank amongst one of my biggest errors! On October 20, 2021, I initiated a 30 share position in one of the 'Core' accounts within the FFJ Portfolio. I subsequently acquired another 30 shares on November [...]
High entry barriers fortify Union Pacific (UNP). My UNP exposure, however, is minimal with my only purchase being 200 shares @ $142.17 on March 9, 2020 while I was on a ski vacation in British Columbia; we were days from experiencing a 'shut down' of the North American economy because of the COVID pandemic. My [...]
Johnson & Johnson (JNJ) is virtually irrelevant to my investment strategy, and therefore, I rarely look at this investment. With the release of the Q4 and FY2024 financial results on January 22, 2025, I figure this is the opportunity to look at it more closely. Twice a year I disclose which companies are my [...]
With ~$11.6T in assets under management (AUM) following a record $641B of full year net inflows, including $281B in Q4 2024, I view BlackRock (BLK) as a great long-term investment. What I need to determine is whether BLK's valuation is sufficiently attractive to increase my exposure. I last reviewed BLK in my October 17, 2024 [...]
I have made my fair share of errors of commission and omission over the years! One of my errors of omission is not initiating a Cintas (CTAS) position when I looked at it in this November 10, 2017 post. On August 16, 2016, shortly after I retired, CTAS announced its intent to acquire G&K Services, [...]
Following the release of Q3 and YTD2024 results on August 26, 2024, I disclosed the purchase of 100 HEICO (HEI and HEI-a) Class A shares @ ~$189.47 in a 'Core' account within the FFJ Portfolio in my August 27 post. On October 28, I purchased an additional 100 Class A shares @ ~$195.58 through the [...]
I currently have insignificant PepsiCo, Inc. (PEP) exposure within a retirement account for which I do not disclose details. As evidence of how little interest I have in this company, I have not reviewed this holding since this July 12, 2022 post. I strongly suspect that world-class athletes rarely consume PEP products. People who lead [...]
In my September 28, 2024 How Stock Based Compensation Distorts Free Cash Flow post, I state that I have been giving more thought to how stock-based compensation (SBC) distorts Free Cash Flow (FCF). In subsequent posts that are accessible through The FFJ Archives, I look at a company's FCF using two methods. The first method [...]
I last reviewed Becton Dickinson (BDX) in this August 6, 2024 post at which time I thought the company was on the path to improved returns; BDX had recently released its Q3 and YTD2024 results and revised FY2024 guidance and announced its plan to acquire Edwards Lifesciences' Critical Care Product Group. On September 3, [...]
I am currently re-reading Richer, Wiser, Happier How the World's Greatest Investors Win in Markets and Life by William Green, a book listed in the Books section of this blog. Over the years, the author interviewed many of the world's prominent investors. They spoke candidly about their setbacks and challenges and shared the most valuable [...]