Summary UTX released Q4 and FY2018 results on January 23 which exceeded analyst expectations thus resulting in a bump in UTX’s share price. While the total estimated cost of the Otis and Carrier spin-offs is significant, the long-term benefits should outweigh these one-time expenses. The Rockwell Automation acquisition closed November 2018. Integration is proceeding as [...]
Following the release of Stanley Black & Decker's (SWK) Q4 and FY2018 earnings on January 22, 2018, SWK's shares dropped ~15.5% in value. This drop is attributed to its FY2019 outlook being weaker than forecast. SWK has indicated it is extremely well positioned to hit its $22B revenue target by 2022; FY2018 revenue was just [...]
Summary GS is currently attractively valued but there is the $7.5B overhang the Malaysian government is seeking to recover from GS. Priorities are to focus on investments for growth, improve operating efficiency, and to enhance the durability of revenues and earnings. GS continues to shift its funding mix from unsecured long-term debt to deposits. The [...]
Summary BK’s Q4 and FY2018 results released January 16, 2019 reflected a mixed underlying performance. Revenue declined but BK maintained strong expense discipline and benefited from a lower tax rate. BK continues to reward shareholders with $3.3B in common shares repurchased and $1.1B in dividends distributed to common shareholders in FY2018. On December 10th, BK [...]
On January 9th, the day I posted my most recent article on Constellation Brands (STZ), the outgoing and incoming CEOs appeared on Mad Money following the release of a disappointing 2019 forecast. STZ's current CEO Rob Sands, who will step down in March, stated the response to his company's softer guidance is a "total overreaction" [...]
A recent article on a highly followed investor website suggests that two small cap TSX listed companies are appropriate investments for Tax Free Savings Accounts (TFSA). For long-term risk averse investors, neither company would be an appropriate investment. In this article I compare the extent to which both companies have rewarded shareholders with two extremely [...]
Summary Constellation Brands (STZ) issued Q3 2019 results and provided lower guidance. Mr. Market did not react positively and STZ’s share price dropped ~12.40% on January 9th. In August 2018 when I purchased January 2019 2 Call $190 contracts I knew I was speculating. Those contracts are now of no value. With STZ’s superior valuation [...]
Berkshire Hathaway Class B shares (BRK.b) are currently held in the Core Accounts portion of the FFJ Portfolio. I will be transferring additional BRK.b shares to the Side Accounts portion of the FFJ Portfolio and will be acquiring further shares as I view them as being reasonably valued. I anticipate heightened volatility in the [...]
Summary On January 3rd, AAPL’s share price sank ~10% after it announced on the 2nd a downward revision in its Q1 2019 guidance. AAPL is, by far, Berkshire Hathaway’s largest equity investment and ~73.3 million shares were purchased between in late 2017 and early 2018 when AAPL was trading in the $163 - $180 [...]
This is my December 2018 FFJ Portfolio dividend income 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 [...]
