This FFJ Portfolio - October 2023 report is an overview of my recent investment activity. Fortunately, we have recently experienced a broad pullback which has resulted in an improvement in the valuation of many companies. Some investors may be disheartened by a drop in the value of their investment holdings. We must remember, however, that [...]
I last reviewed Fortive (FTV) in this July 31, 2023 post at which time I concluded that shares were fairly valued. Rather than add to my exposure, I expressed my interest in increasing exposure to companies facing short-term headwinds which appeared to have temporarily fallen out of favour with investors. Following a ~16% share price [...]
I last reviewed CME Group (CME) in this August 1, 2023 post at which time the most recently available financial information was for Q2 and YTD2023. With the release of Q3 and YTD2023 results on October 25, I revisit this holding. Overview A high-level overview of the company is provided in previous posts that are [...]
On July 25, RTX Corporation (RTX) surprised the investment community when it disclosed that its Pratt & Whitney (P&W) operating segment identified microscopic contaminants in a metal used in part of the Geared Turbofan (GTF) engines that power Airbus' popular A320neo jets. RTX's share price plunged following this announcement and based on my analysis I [...]
Despite Visa (V) being my largest holding, I last reviewed it in my December 15, 2022 guest post at Dividend Power. With the release of Q4 and FY2023 results and FY2024 outlook following the October 24 market close, I revisit this existing holding. Potential Exchange Offer Program for Class B Common Stock V was a [...]
When I last reviewed Danaher (DHR) in this July 31 post, it had recently released its Q2 and YTD2023 results and the spin-off of Veralto Corporation (VLTO) was on schedule to close on September 30. With the spin-off completed and the October 24 release of Q3 and YTD results and guidance for the remainder of [...]
I last reviewed Goldman Sachs (GS) in this January 18, 2023 post at which time GS had just released Q4 and FY2022 results and I concluded shares to be too richly valued. Much has changed since that last review. At GS's first Investor Day in January 2020, David Solomon, Chairman and CEO laid out a [...]
I last reviewed Blackstone (BX) in this July 23 post at which time it had just released its Q2 and YTD2023 results. Now that BX has released its Q3 and YTD2023 results on October 19, I take this opportunity to revisit this existing holding. Business Overview I encourage you to review the company's website and [...]
The risks some investors take never cease to amaze me. They will invest in highly speculative unprofitable companies that consistently generate negative Free Cash Flow (FCF) but will overlook Intuitive Surgical (ISRG) with its impeccable Balance Sheet. Just because ISRG is a high-quality company, however, does not mean investors should overlook valuation! I last reviewed [...]
I last reviewed Genuine Parts (GPC) in this July 21 post at which time it had released Q2 and YTD2023 financial results and FY2023 guidance. Now, GPC has released Q3 and YTD 2023 results and its share price has tumbled prompting me to revisit this existing holding. Business Overview Part 1 Item 1 in GPC's [...]