The articles go over spin-off and asset sale possibilities that Vivendi could do to unlock value.
The main thing I found interested is that they appear to be trying to sell or spin-off ATVI first which is what I think they should do, and what I stated in my article here.
I was surprised to see that they are thinking about selling SFR though. They originally owned 66% of SFR and last year bought out the remaining 44% so that could be a quick show that buying the remaining portion was a mistake.
Whatever they decide to do, Vivendi will most likely unlock their missing value and the share should go up quite a bit higher after they make their decisions.
The analysis and valuation series on Dole, Chiquita, Fresh Del Monte, and my conclusions, which is the finale in the series that just got published, is exactly how I am planning on going about my analysis in the future. I am light years ahead of where I was when I first started, but I am still light years from where I need to be. The main thing I need to keep working on is my ability to judge competitive advantages.
I am now going to be finishing up Competition Demystified, which will help me judge competitive advantages better, and I will be searching for my next company to study.
Here is a great post from oldschoolvalue.com, hope you enjoy.
I have just finished the annuals and quarterly reports from Chiquita, and Fresh Del Monte, Dole’s biggest competitors.
I am putting together a series of posts on those three companies. Which one could be the best buy for a spot in the long term portion of my portfolio without the spin off possibility, or if any of them are good enough to fit that profile.
I have also started Competition Demystified and can tell I am going to learn a lot from it. I can’t wait to get farther into it and start applying the principles to the stocks I research.
Over the past several days I have been reading annual and quarterly reports for a couple companies I am researching. Tonight I am going to start reading some of the competitors annuals, and hopefully when I am done I will have enough information to value the companies and see where that takes us.
With the information in my previous post, and the experience I gained from that, I have gotten pretty good at spotting the bad companies and have been obviously staying away from them. Too bad that is the easy part of investing. Now I need to get a lot better at deciphering which companies are the good ones and which ones have the potential to become great, the ones with a so called Franchise. I also need to get better at finding companies with legitimate, sustainable competitive advantages.
So for Father’s Day I got Bruce Greenwald’s Competition Demystified which will hopefully help me learn a lot in those two departments.
Those are my plans for the next week or so, now lets see how that plays out.
“You are neither right nor wrong because people agree with you.” Benjamin Graham
“In the short run, the market is a voting machine, but in the long run it is a weighing machine.” Benjamin Graham
“All intelligent investing is value investing-to acquire more than you are paying for. Investing is where you find a few good companies and then sit on your ass.” Charlie Munger
“The market is a no-called-strike game. You don’t have to swing at everything-you can wait for your pitch.” Warren Buffett
“Be greedy when others are fearful, and fearful when others are greedy.” Warren Buffett
“The important thing is not to stop questioning. Curiosity has its own reason for existing. One cannot help but be in awe when he contemplates the mysteries of eternity, of life, of the marvelous structure of reality. It is enough if one tries merely to comprehend a little of this mystery every day. Never lose a holy curiosity.” Albert Einstein
“Everything should be as simple as it is, but not simpler.” Albert Einstein
“I have no special talent. I am only passionately curious.” Albert Einstein
“You miss 100% of the shots you don’t take.” Wayne Gretzky
“I skate to where the puck is going to be, not where it has been.” Wayne Gretzky