Alternative asset exposure (eg. private equity, private debt, hedge funds, real estate, commodities, structured products, venture capital) can produce attractive long-term investment returns. Directly investing in alternative assets, however, is beyond my risk tolerance. This is why a portion of my alternative asset exposure is through Blackstone (BX). I last reviewed Blackstone (BX) in [...]
I last reviewed Intuitive Surgical (ISRG) in this April 19, 2023 post at which time it had just released Q1 2023 results. With the release of Q2 and YTD2023 results following the July 20, 2023 market close, I revisit this existing holding. Overview Please refer to the company's website and 'Item 1 - Business' in [...]
My last Genuine Parts (GPC) post was on March 23, 2023 post following my review of GPC's 2023 Investor Day material. Fast forward to July 20 at which time GPC released Q2 and YTD2023 financial results and FY2023 guidance. The tumble in GPC's share price following the release of these results has piqued my interest [...]
An estimation from PwC's '2023 Global Asset and Wealth Management Survey' is that 1 in 6 asset and wealth management companies globally are likely to disappear or be acquired by 2027; this is twice the normal turnover rate. As per my guest post at Dividend Power, I think BlackRock (BLK) is likely to be a [...]
In my June 13 post, I touch upon Nasdaq, Inc.'s (NDAQ) June 12 announcement regarding its definitive agreement to acquire Adenza from Thoma Bravo for $10.5B in cash and shares of common stock; Adenza provides mission-critical risk management and regulatory software to the financial services industry. The rationale for the acquisition is to accelerate NDAQ's [...]
I last reviewed Lockheed Martin (LMT) in this April 18 post. At the time of that review, LMT had just released Q1 2023 results and reaffirmed the FY2023 guidance provided when it released its Q4 and FY2022 results. My concern at the time of my April post was with LMT's valuation. The share price had [...]
Alimentation Couche-Tard (ATD.to) has a profitable business model that has enabled it to become one of the leading participants in the highly fragmented convenience store space; 7-Eleven, Inc., owned by Japanese Seven & I Holdings through Seven-Eleven Japan Co., Ltd., is the largest industry participant. I last reviewed ATD in this May 15, 2021 post. [...]
Nike (NKE) shareholders have experienced sub-par total investment returns over the past 5 years (an average annual total return of ~7.3% versus ~11.4% for the S&P 500 when dividends are reinvested). NKE's average annual total return drops to (18.42%) versus ~2% for the S&P 500 if we change the timeframe to 2 years. Change the [...]
I consider low-risk Paychex (PAYX) to currently be attractively valued. I last reviewed this holding in my March 30, 2023 post at which time Q3 and YTD2023 results had just been released. With the release of its Q4 and FY2023 results and FY2024 outlook, I briefly revisit this holding. Business Overview Although I provide a [...]
I last reviewed Nasdaq, Inc. (NDAQ) in this October 21, 2021 post. Based on my analysis, I decided not to initiate a position. Fast forward to June 12, 2023. NDAQ has announced that it entered into a definitive agreement to acquire Adenza from Thoma Bravo for $10.5B in cash and shares of common stock; Adenza [...]