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Recent Articles
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Herbalife Sees a Slow Recovery Ahead
Jul 15, 2019
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Image Source: Herbalife Nutrition Limited - 2018 10-K.
Shares of HLF appear fairly valued as things stand today, with most participants looking to see if Herbalife’s rebound has legs or not. We aren’t interested in the name, but we don’t think the sky is falling either. Herbalife has had a wild ride over the past decade, but now that things are settling down, management sees a slow recovery ahead.
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Valuentum's Best Ideas Newsletter Portfolio
Jul 15, 2019
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We disclose the holdings of the portfolio of the Best Ideas Newsletter in this article. This portfolio can always be found in each edition of the monthly Best Ideas Newsletter.
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View Current and Archived Best Ideas Newsletters
Jul 15, 2019
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View previous editions of the Best Ideas Newsletter in this article.
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Reviewing PepsiCo’s Latest Earnings
Jul 13, 2019
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Image Source: Mike Mozart.
Shares of PEP trade well above our fair value estimate and as of this writing are trading near the top end of our fair value range. We aren’t looking to add PEP to any newsletter portfolio, but we appreciate PepsiCo’s improving operational and financial performance in the face of foreign currency headwinds, trade wars, and other exogenous events outside of its control.
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Broadcom Might Buy Symantec: Why Enterprise Valuation Matters
Jul 13, 2019
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Our fair value estimate for shares of SYMC stands at $25, and that estimate hasn’t changed much over the past few years. Generally speaking, fair value estimates shouldn’t fluctuate much as the value of the discounted free-cash-flows-to-the-firm during the mid-cycle period and into perpetuity generally have the greatest influence on the fair value of the equity. Profit warnings are important, but more so as it relates to the trajectory of the company’s free cash flow generation. Transformative acquisitions, major structural shifts in the industry the company in question operates in, or other fundamental changes are all potential sources of meaningful changes in fair value.
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