Alimentation Couche-Tard (TSX: ATD.b) is the 2nd largest participant in the highly fragmented convenience store industry behind Japan's Seven & I Holdings Co. (7-11 chain). ATD.b will appeal to investors seeking growth versus dividend income. Summary ATD is the #2 player in the convenience store sector on a global basis behind Japan’s Seven & I [...]
PepsiCo, Inc. (PEP) has just released Q2 2019 results and reaffirmed FY2019 guidance. In its July 9, 2019 Earnings Release, PEP's Chairman and CEO indicated efforts are being made to make PEP a faster, stronger and better company by building new capabilities, strengthening brands, adding capacity to grow and transforming the culture. I view PEP [...]
Brookfield Asset Management Inc. (BAM and BAM-a.TO) has demonstrated its ability to attract funding from sophisticated institutional investors and has stated it wants to grow the number of client relationships from 630 in 2019 to ~1000 by 2023. Its infrastructure investment arm, Brookfield Infrastructure Partners L.P. (BIP and BIP-un.TO) which invests in operating assets across [...]
Despite increased competition Nike, Inc. (NKE) stands to benefit from the growing global middle class. I view NKE as an attractive long-term investment in that it consistently generates strong Free Cash Flow and has a Balance Sheet which reflects minimal Intangible Assets and Goodwill. Summary NKE faces stiff competition but it has demonstrated that [...]
This is my June 2019 FFJ Portfolio update. The portfolio was created in January 2017 for the purpose of demonstrating how investing in high quality companies with competitive advantages and with a record of consistently increasing dividends can assist investors in reaching their long-term financial goals without the need to speculate or to chase dividend [...]
FedEx Corporation's (FDX) share price has been under pressure as it faces headwinds resulting from the current trade war. I view FDX as a leader in the Air Delivery and Freight Services industry. Its current attractive valuation presents long-term investors with a window of opportunity to invest in a high quality company which should benefit [...]
I am in agreement with Chris Wood, Global Head of Equity Strategy at Jefferies Group LLC, who currently views North American equity markets with a great deal of skepticism. There is certainly a difference of opinion as it relates to current North American equity market conditions. Some investors argue the broad North American market is [...]
I highly encourage you to listen to this brief Howard Marks (co-founder of Oaktree Capital) interview in which he shares his thoughts on how to invest in overpriced markets. I don't like to be on the receiving end of radio silence and I suspect you are similar in nature so I am providing this very [...]
Howard Marks may not be a household name but sophisticated investors know that when Mr. Marks has something to say it is well worth paying close attention. I share a link to this 'Talks at Goldman Sachs' interview in late 2018 wherein Mr. Marks shares his insights on the forces shaping the market cycle. In [...]
United Technologies Corporation (UTX) and Raytheon Company (RTN) have recently announced a proposed merger of equals. Regulatory approvals are still required but because the companies are complementary in nature with less than 1% overlap in sales, management is optimistic the transaction can close in the first half of 2020. Summary United Technologies Corporation and Raytheon [...]
