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 [...]
In several previous posts I have touched upon our need to 'meltdown' our Registered Retirement Savings Plans (RRSP) before the mandatory date by which they are automatically converted to Registered Retirement Income Funds (RRIF); the deadline by which a RRSP must be converted to a RRIF is by December 31 of the year the RRSP [...]
I last reviewed Veeva Systems (VEEV) in this August 29, 2024 post at which time the most current financial information was for Q2 and YTD2025. Based on my analysis I opted not to immediately add to my exposure. On November 7, VEEV held its 2024 Investor Day at which time management disclosed its ambitious target [...]
I initiated a CME Group Inc. (CME) position on June 29, 2020 and have increased my exposure over the years. Several aspects of this business appeal to me one of which is that CME is the world's leading derivatives marketplace. In essence, CME is a key provider of products for the purpose of increasing or [...]