A Quote by David Dreman
We invest in undervalued companies that exhibit strong fundamentals, above-market dividend yields and historic earnings growth, which our analysis indicates will persist. Our strategy is to own strong, fundamentally sound companies and to avoid speculative stocks or potential bankruptcies.
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There are several things that can create an alpha - stock buybacks are one. High dividend yields are another, especially nowadays because the stock market yields more than the banks and the tenure treasury. But by and large, it tends to be companies with a strong cash flow, rising sales, accelerated earnings, a profit margin expansion.
The strong and undeniable fundamentals of low-cost clean energy and the cheapest petrochemical feed-stocks in the world will prevail we believe and we're seeing the demand pool beginning to grow. We have continued to position ourselves in a way that will catch this very sustainable and fundamentally supported wave of volume growth and at the same time, help our customer base achieve their lofty goals of growth as well.
When the trust is high, you get the trust dividend. Investors invest in brands people trust. Consumers buy more from companies they trust, they spend more with companies they trust, they recommend companies they trust, and they give companies they trust the benefit of the doubt when things go wrong.
It's one of the fundamental principles of the stock market: When interest rates go up, stocks go down. And along with financial companies and cyclicals, technology companies - with their sky-high price-to-earnings multiples - should be among the biggest losers in an environment of rising rates.
We invest in early childhood education. We invest additional job training dollars. We make sure that we've got a strong research and development strategy so that we continue to innovate. Rebuilding our infrastructure, which we know will attract businesses.
We adopted a focused strategy of core businesses in Citicorp that play to our unique historic strengths as a global bank that will provide strong growth and attractive returns over the long-term... And we've identified non-core assets we have shed.
Our Government is fostering economic growth in Kitchener, Cambridge and all of the Waterloo Region by investing in our innovative businesses. Today's announcement is a great example of how we are helping high-potential companies bring great ideas to market faster. Helping our entrepreneurs and original thinkers export their products and services to the rest of the world creates jobs, growth and economic prosperity here at home.
Although housing sales and starts have cooled to more typical levels, the housing market remains strong and sound. Without the expansion of homeownership and the strength of our housing market, our nation would not have the economic growth we are experiencing today.
Stock prices are likely to be among the prices that are relatively vulnerable to purely social movements because there is no accepted theory by which to understand the worth of stocks....investors have no model or at best a very incomplete model of behavior of prices, dividend, or earnings, of speculative assets.
There is no progress without risk, and in an environment where change is accelerating, risks are multiplying and businesses are increasingly complex, companies need strong, innovative partners to help manage their risk. Our brand clearly sets XL apart as the strong, innovative partner needed in today's market.
There will be a lot of competitive and strong companies coming here and even though Kosovo is a small country that undoubtedly has a lot to offer to global trade; one of our main interests is to expose it to the world market.
The big picture is: the main thing you should be concerned about in the future are incremental returns on capital going forward. As it turns out, past history of a good return on capital is a good proxy for this but obviously not foolproof. I think this is an area where thoughtful analysis can add value to any simple ranking/screening strategy such as the magic formula. When doing in depth analysis of companies, I care very much about long term earnings power, not necessarily so much about the volatility of that earnings power but about my certainty of "normal" earnings power over time.
My portfolio consists of many companies I find fundamentally undervalued in which I expect activism to play a role in the value being realised.
Sometimes it takes longer to create value, but if the companies generate more earnings, the stocks will ultimately reflect that.
The market is now factoring in that first-quarter earnings will likely be below consensus. And the reality is that economic growth is probably going to be between 3.5 percent and 4 percent, which is good but maybe not as strong as what some people were hoping for.
Every company that manufactures something is causing some damage either to the soil or water or air. Most companies treat these as externalities. But the growing movement of sustainability calls for companies to internalize these costs. Once companies do this, they will have a strong incentive to reduce their carbon footprint.
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