Written by Miguel Neto. There are some pictures I couldn’t put in this write-up that I included in the write-up I put up on my blog (https://netosnotes.blogspot.com/2019/09/graftech.html) ***** GrafTech (ticker: EAF) has been...
Originally posted at www.Gannononinvesting.com on June 01, 2011 by Geoff Gannon Someone who reads the blog sent me this email: Dear Geoff, in your article “Should you Buy Microsoft?” on GuruFocus, you said, that it makes sense...
Some readers have emailed me with questions about exactly how to calculate free cash flow, including: Do you include changes in working capital? Do you really have to use SEC reports instead of finance websites? Yes. You really do have to...
Posted by: Warwick Bagnall ALG consists of two main parts; the Dreamworld/White Water World theme park in Queensland, Australia and the Main Event chain of family entertainment centres in the US. I’m interested in ALG mainly to try and...
A Different view on Fannie Mae (FNMA) and Freddie Mac (FMCC), an issue is rather complex. Here I may refer to both institutions as “government-sponsored entities” or (“GSEs”). But YOU as an investor should focus...
“In lieu of (earnings per share), Malone emphasized cash flow…and in the process, invented a new vocabulary…EBITDA in particular was a radically new concept, going further up the income statement than anyone had gone before to arrive at a...
By GEOFF GANNON 09/05/2019 A Focused Compounding member asked me this question: “Have you any thoughts on why U.S. banks are so profitable (the better ones at least)? I’ve looked at banks in other countries (the U.K. and some of...
By Geoff Gannon December 8, 2017 Someone emailed me this question about tracking portfolio performance: “All investors are comparing their portfolio performance with the S&P 500 or DAX (depends were they live). I have...
by GEOFF GANNON This is my initial interest post for Monarch Cement (MCEM). I’m going to do things a little differently this time. My former Singular Diligence co-writer, Quan, emailed me asking my thoughts on Monarch as a stock for his...
by VETLE FORSLAND In the middle of June this year, Norbit ASA (ticker: NORBIT) went public on the Oslo stock exchange at 20 kroner per share, after earlier aiming for an IPO price between 23 kroner per share and 30 kroner per share. It...
March 26, 2011 Someone who reads the blog sent me this email. Geoff, In a previous email to me you explained how Warren Buffett values a company. The text that your wrote was: “He wants his investment to increase 15% in...
April 24, 2016 By Geoff Gannon Moat is sometimes considered synonymous with “barrier to entry”. Economists like to talk about barriers to entry. Warren Buffett likes to talk about moat. When it comes to investing, “moat” is what matters....
by JONATHAN DANIELSON Waste Management is not a cheap stock. It does, however, have nearly all the markers of a really good business. And it doesn’t necessarily look overvalued at these levels either. It leads its industry, has...
December 17, 2017 by Geoff Gannon A blog reader sent me this email: “Do you ever pay attention to insider transactions when analyzing a company?” I do read through lists of insider buys from time-to-time. I follow a blog that covers these...
by ANDREW KUHN Parks! America Price: $0.14 Shares: 74.8m MC: $10.4m Cash: $3.2m Debt: $2.4m EV: $9.6m Geoff and I use a checklist that we go through before...
December 14, 2017 by Geoff Gannon A blog reader emailed me this question about why I appraise stocks using a pure enterprise value approach – as if debt and equity had the same “cost of capital” – instead of using a Weighted Average Cost...
by REID HUDSON FFD Financial Corp. (FFDF) is a small Ohio bank holding company that owns all the outstanding shares of First Federal Community Bank. It is headquartered in the town of Dover, Ohio, where it also has its two largest...
By GEOFF GANNON Investors often overestimate the reduction in volatility they will get from diversification and underestimate the reduction in volatility they will get from simply owning stocks with a beta less than 1. Over the...
December 23, 2017 by Geoff Gannon Richard Beddard recently wrote a blog post about company strategy. And Nate Tobik recently wrote one about how you – as a stock picker – have no edge. I’d like you to read both those posts first. Then,...
Writeup by Thomas Niel Innovative Food Holdings (OTC: IVFH), is a micro-cap specialty foods distributor selling at a sharp discount to its peers. This discount is not irrational, as the company has two material risks: IVFH is dependent...