Archive for the ‘ValueWalk’ Category

Newell Brands Inc. (NWL) Gabelli Research

By Rizwan1. Originally published at ValueWalk.

Newell Brands Inc. (NWL) Gabelli Research Analyst Zamane Bodini (2-20-2018)


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Transcript:

Hi. My name is Zamane Bodini and I’m a consumer products analyst at Gabelli & Company. Today we are reviewing diversified consumer products company Newell Brand, headquartered in Hoboken, NJ.

The company has 491 million shares outstanding, trading at 27 dollars per share for an equity market cap of 13 billion dollars.

Over the last six months, Newell Brands’ share price has been cut in half as the positive momentum the company has achieved in market share gains and e-commerce growth has been overshadowed by inventory destocking, customer bankruptcies and input inflation. As a result, Newell Brands announced it is looking to sell ~25% of its portfolio by 2019, to align with the changing retail landscape and to create a focused portfolio.

We believe this is a step in the right direction as: 1) Newell Brands will be a faster growth, higher-margin company with $11 billion in sales and $2 billion in EBITDA in consumer centric categories; 2) the company will be simpler with its supply chain footprint and consumer base reduced by 50%, and 80% of sales consolidated into 2 ERP systems from 20 currently; 3) Newell will have a stronger balance sheet with $6-7 billion in gross proceeds coming in to pay down the company’s current net debt balance of $10.7 billion.

In closing, we continue to believe Newell Brands remains an attractive investment. Shares currently trade at 9.0x 2017E EBITDA and 9.2x earnings, a discount to its peers trading at 11-14x and 18-24x, respectively. We expect the discount to narrow as the company executes on its transformation plan and provides investors with clarity on its long term strategy. We calculate a private market value of $40 per share in 2018

Mario Joseph Gabelli, Mario Gabelli, GAMCO Investors, deals deals deals, mergers & acquisitions, Gabelli Asset Management Company Investors, American stock investor, investment advisor, financial analyst, CFA, CNBC, value investors, special situations, Fordham University, Distinguished Value Investors, Barron's All-Century Team, Graham & Dodd, highest paid CEOs, money managers, fund managers, Valuewalk

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Leggett & Platt, Incorporated (LEG) Gabelli Research

By Rizwan1. Originally published at ValueWalk.

Leggett & Platt, Incorporated (LEG) Gabelli Research Analyst Justin Bergner (2-20-2018)


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Transcript:

On February 7th, we changed our recommendation on Leggett & Platt from hold to buy.

Leggett, headquartered in Carthage, MO, designs and produces various engineered components and products worldwide to consumer durables markets, mainly furniture therein, automotive markets, and commercial/industrial markets. Its products include mattress innersprings and lumber support systems for automotive seating.

The company has 136 million shares outstanding, closed at 44 dollars per share for an equity market cap of 6.0 billion dollars.

While Leggett & Platt supplies cyclical bedding, furniture, and automotive markets, it has a dominant market position in mattress innersprings, which comprise half of the $2.4 billion US market for mattress cores and stationary foundations. It also has nearly 50% global market share in $1 billion market for automotive lumbar support and seat suspension. In both the innerspring and seat comfort market, its products play a critical role in driving consumer comfort.

Leggett & Platt has recently been showing robust outgrowth in mattress cores after a challenging 1H’17. Its Comfort Core, Quantum Edge, and Nano-coil products have gaining content on hybrid mattress cores, which use both foam and spring components. Growing raw material costs for foam cores has also helped Leggett’s innerspring components. While bed in a box is a competitive risk, Leggett is itself a growing player in this market.

Leggett has reasonable valuation metrics for a high quality multi-industrial with good operations and good capital allocation. It trades at 10x our estimate for 2018 EBITDA with a 5.5% FCF yield that it uses to pay a 3.3% dividend yield, repurchase stock, and make bolt on acquisitions.

Leggett should grow EBITDA at a 7% rate from 2017-2021 and EPS at a near 10% . We estimate EPS of $2.75 in 2018 growing to $3.30 in 2020 and calculate a 2020 Private Market Value of $60 per share.



Leggett & Platt

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Elon Musk, Steve Jobs, Jack Ma, Larry Ellison, Bill Gates, Charlie Munger Etc on Education – In their Own Words

By VW Staff. Originally published at ValueWalk.

See what the world’s most successful dropouts think about education. Several are illiterate. Re-evaluate your opinion on learning, knowledge, and success by seeing Elon Musk, Steve Jobs, Jack Ma, Robert De Niro, Larry Ellison, Bill Gates, Charlie Munger, Beatrix Potter, Chris Dawson who can’t write, Micheal Dell, Felix Dennis, Peter Thiel, Thomas Edison, Robert Kiyosaki, Richard Branson and others – reveal their views on the school system and learning.


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Education

holiho / Pixabay

THREE EXCEPTIONS are included because of their extraordinarily similar educational insights: Warren Buffett wanted to drop out but didn’t due to parental pressure. Dolf de Roos (university did nothing for his success – explained in the clip) and Peter Thiel, who has invested very successfully with dropouts Elon Musk and Zuckerberg and has a foundation which encourages people to drop out for the right reasons. Whether you are deciding the value of university, higher education, college, or dropping out to start a business, gain employment or self-education; or deciding to home school your child, send them to school; or trying to open the mind of your partner to think different about the education and success of your children, this video will provide real food for thought. There are many more billionaires and millionaires who did not go to school, college or university, but I hope at the current video length, the point is made sufficiently that the viewer will not be able to say “oh it is just a random few.

” One more interesting fact: Adjusting for inflation, John Rockerfeller is the world’s richest man of the recent century. He left school at 16 to be an assistant bookkeeper. Thank you for watching. If you have any suggestions or reactions, please leave your comments.

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Bill Nygren’s Stock Picks

By VW Staff. Originally published at ValueWalk.

Bill Nygren, Harris Associates U.S. equities CIO and Oakmark Funds portfolio manager, shares his top stock picks and long-term investment strategy.

H/T Dataroma


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Bill Nygren’s Stock Picks

Pro: Three hot stocks to watch from CNBC.

Bill Nygren

Image source: CNBC Video Screenshot

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Warren Buffett’s Advice for Small Business 2018

By joniferdingcong. Originally published at ValueWalk.

The Master Investor gives top tips for budding entrepreneurs, startups, and small businesses.


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Morgan Housel on What Other Industries Teach Us About Investing

By joniferdingcong. Originally published at ValueWalk.

Morgan Housel gave an amazing presentation on What Other Industries Teach Us About Investing at our second annual MicroCap Leadership Summit (MLS). The MLS is an annual event hosted by MicroCapClub. MicroCapClub is an exclusive forum for experienced microcap investors focused on microcap companies (sub $300m market cap) trading on United States, Canadian, and UK markets. MicroCapClub was created to be a platform for experienced microcap investors to share and discuss stock ideas. Investors can join our community by applying to become a member or subscribing to gain instant view only access. MicroCapClub’s mission is to foster the highest quality microcap investor Community, produce Educational content for investors, and promote better Leadership in the microcap arena. For more information, visit http://microcapclub.com


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Lynch, Bezos, Capital Allocation And Dividend Investing

By Sure Dividend. Originally published at ValueWalk.

Sure Dividend’s goal is to reach as many people as possible about the advantages of investing in high quality dividend growth stocks for the long run.


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ValueWalk readers can click here to instantly access an exclusive $100 discount on Sure Dividend’s premium online course Invest Like The Best, which contains a case-study-based investigation of how 6 of the world’s best investors beat the market over time.

The channel covers the same topics as the Sure Dividend website, just in video instead of in writing.  You can see 3 of our most recent videos at the links below:



We’re planning on developing useful investing content throughout 2018 focused on:

  • Investing tutorials
  • Case studies
  • Analysis of individual dividend stocks
  • The investment strategies used by the world’s greatest investors

The best way to stay in touch with this content is by subscribing to our Youtube channel here, and enabling video notifications (which you can do by clicking ‘subscribe’ and then clicking the bell icon which will appear next).

If you have any video requests, please email them to support@suredividend.com.  We look forward to hearing from you!

Thanks,

Ben Reynolds

Sure Dividend


The world’s best investors have trounced the market decade-after-decade.  The course Invest Like The Best uses actionable cases studies from investors like Warren Buffett, Peter Lynch, Seth Klarman (and more) to teach you the tools and techniques of super investors.  Click here to enroll today and save $100.

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Columbia MBA- Greenwald Class: Li Lu (2006)

By Jacob Wolinsky. Originally published at ValueWalk.

Columbia MBA- Greenwald Class: Li Lu (2006)


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li Lu valuewalk great value investors BYD charlie munger Warren Buffett Chinese investors concentrated investing

unfortunately what I’m doing today19:17you know I no longer talk about what we19:21own so I pick up a couple of examples of19:23what I owned in the past you know I19:25started this business in late 97 and you19:30know along the way being through a19:32couple really traumatic events you know19:36one is sort of the Asian financial19:38crisis and then the technology bubble a19:41couple of the different things but you19:42know those period of a time you tend to19:45have more interesting opportunities let’s start with them let’s go back to19:5298 so it was a fall in 98 and I tell you19:58the search that I go through are very20:00simple because I’m interesting all sorts20:02of different business I usually just get20:04a menus you know I got hooked a tube a20:08new line while I was a student here you20:11know every issue as it comes out I just20:13you know love to read the whole thing20:15from beginning to end because that’s20:18really the best kind of education if you20:22want to have an encyclopedia knowledge20:25base and data base20:27which you have to so just to go through

20:30that to page after page after page is20:33just enormous ly helpful and the first20:36thing I always this check is sort of the20:38new low list you know that the new kind20:41of a low is that blow close the PLO is20:43available that really attract me more20:46than the new high list now this actually20:49I don’t have any more of my copies I get20:53rid of that so I asked them for reprint20:55and the number is not right I mean I was20:58looking more of somewhere around to I21:01think it’s a September or something

unfortunately what I’m doing today19:17you know…
continue reading





Warren Buffett: Advice For Entrepreneurs

By VW Staff. Originally published at ValueWalk.

A speech by billionaire and CEO of Berkshire Hathaway, Warren Buffett. In this speech, Warren tells three stories of entrepreneurs who against unfavourable circumstances, created successful businesses. These stories demonstrate key principle that Warren sees as necessary for a business to succeed.


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Warren Buffett: Advice For Entrepreneurs (2018)

Video Segments:

0:00 Introduction

0:38 Giving speeches

2:28 Buying a business from two women

6:42 Lessons learnt from Jack Taylor creating Enterprise

16:22 Inspire others

17:43 Important decisions in life

18:56 Simple rules

Warren Buffett Books

The Snowball: Warren Buffett and the Business of Life

The Essays of Warren Buffett

Tap Dancing to Work: Warren Buffett on Practically Everything

Warren Buffett’s Favourite Books

The Intelligent Investor: The Definitive Book on Value Investing

Security Analysis: Sixth Edition

Common Stocks and Uncommon Profits and Other Writings

Charles Munger

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Aswath Damodaran: Estimating An Optimal Debt Ratio – Peer Group Or Me Too Capital Structure

By VW Staff. Originally published at ValueWalk.

Most companies decide how much to borrow by looking at what other companies in the peer group are borrowing, with both the peer group and the debt metric set by what others are doing. In this session, I look at this approach to setting debt ratios and how to tweak it to allow for differences across companies.


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Webcast Slides

ValueWalk Aswath Damodaran, Professor of Finance , Stern School of Business , New York University, Damodaran on Valuation, Corporate Finance, equity valuation, valuewalk, teaching, reading, books, porter's five forces, business valuation, valuation metrics

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Phil's Favorites

Before the US approves new uranium mining, consider its toxic legacy

 

Before the US approves new uranium mining, consider its toxic legacy

Warning sign at Kerr-McGee uranium mill site near Grants, N.M., December 20, 2007. AP photo/Susan Montoya Bryan

Courtesy of Stephanie Malin, Colorado State University

Uranium – the raw material for nuclear power and nuclear weapons – is having a moment in the spotlight.

Companies such as Energy Fuels, Inc. have played ...



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ValueWalk

Newell Brands Inc. (NWL) Gabelli Research

By Rizwan1. Originally published at ValueWalk.

Newell Brands Inc. (NWL) Gabelli Research Analyst Zamane Bodini (2-20-2018)

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GabelliTV

Transcript:

Hi. My name is Zamane Bodini and I’m a consumer products analyst at Gabelli & Company. Today we are reviewing diversified consumer products company Newell Brand, headquartered in Hoboken, NJ.

The company has 491 million ...



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Zero Hedge

US Olympians Are Turning To Bitcoin To Offset Competition-Related Costs

Courtesy of ZeroHedge. View original post here.

As many college athletes know all too well, funding for more niche sports like - for example - luge is often lacking, and securing more often requires hours of fundraising by the team's boosters.

Which is why, ahead of the Winter Games in PyeongChang, some teams started getting creative. For instance, fundraisers for the US luge team have started accepting donations in bitcoin. Indeed, the team has raised several thousand dollars worth of bitcoin.

...



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Digital Currencies

US Olympians Are Turning To Bitcoin To Offset Competition-Related Costs

Courtesy of ZeroHedge. View original post here.

As many college athletes know all too well, funding for more niche sports like - for example - luge is often lacking, and securing more often requires hours of fundraising by the team's boosters.

Which is why, ahead of the Winter Games in PyeongChang, some teams started getting creative. For instance, fundraisers for the US luge team have started accepting donations in bitcoin. Indeed, the team has raised several thousand dollars worth of bitcoin.

...



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Chart School

'Bull Trap' in Dow Jones Industrial Average

Courtesy of Declan.

Starting to see evidence that the February bounce in markets is fading. The Dow Jones Industrial Average finished with a 'bull trap' as it ducked below breakout support despite finishing above yesterday's close. Volume dropped as relative performance against tech indices took a marked step lower. Troubling times for the 'flight-to-safety' route.


The Semiconductor Index had looked like it was ready to mount a challenge of the January 'bull trap' but the last couple of days have seen a second attempt at a reversal ...

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Insider Scoop

5 Biggest Price Target Changes For Thursday

Courtesy of Benzinga.

  • BMO Capital raised the price target for Home Depot Inc (NYSE: HD) from $191 to $213. Home Depot shares closed at $183.06 on Wednesday.
  • KeyBanc boosted Synopsys, Inc. (NASDAQ: SNPS) price target from $106 to $110. Synopsys shares closed at $88.46 on Wednesday.
  • Imperial Capital increased Qualys Inc (NASDAQ: QLYS) price target from $62 to $83. Qualys shares closed at $72.15 on Wednesday.
  • KeyBanc boosted the price target for GrubHub Inc (NYSE: ...


http://www.insidercow.com/ more from Insider

Biotech

What is 'right to try,' and could it help?

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

 

What is 'right to try,' and could it help?

In this March 18, 2011 photo, Cassidy Hempel waved at hospital staff as she was being treated for a rare disorder. Her mother Chris, left, fought to gain permission for an experimental drug. AP Photo/Marcio Jose Sanchez

Morten Wendelbo, Texas A&M University and Timothy Callaghan, ...



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Mapping The Market

The tricks propagandists use to beat science

Via Jean-Luc

How propagandist beat science – they did it for the tobacco industry and now it's in favor of the energy companies:

The tricks propagandists use to beat science

The original tobacco strategy involved several lines of attack. One of these was to fund research that supported the industry and then publish only the results that fit the required narrative. “For instance, in 1954 the TIRC distributed a pamphlet entitled ‘A Scientific Perspective on the Cigarette Controversy’ to nearly 200,000 doctors, journalists, and policy-makers, in which they emphasized favorable research and questioned results supporting the contrary view,” say Weatherall and co, who call this approach biased production.

A second approach promoted independent research that happened to support ...



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Members' Corner

An Interview with David Brin

Our guest David Brin is an astrophysicist, technology consultant, and best-selling author who speaks, writes, and advises on a range of topics including national defense, creativity, and space exploration. He is also a well-known and influential futurist (one of four “World's Best Futurists,” according to The Urban Developer), and it is his ideas on the future, specifically the future of civilization, that I hope to learn about here.   

Ilene: David, you base many of your predictions of the future on a theory of historica...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



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Kimble Charting Solutions

Brazil; Waterfall in prices starting? Impact U.S.?

Courtesy of Chris Kimble.

Below looks at the Brazil ETF (EWZ) over the last decade. The rally over the past year has it facing a critical level, from a Power of the Pattern perspective.

CLICK ON CHART TO ENLARGE

EWZ is facing dual resistance at (1), while in a 9-year down trend of lower highs and lower lows. The counter trend rally over the past 17-months has it testing key falling resistance. Did the counter trend reflation rally just end at dual resistance???

If EWZ b...



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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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