Ciner Resources LP (CINR), is a fixed-distribution Master Limited Partnership that IPOed in 2013. It is one of the largest and lowest cost producers of natural soda ask in the world. Soda Ash is a raw material used in the production of glass, chemicals, and detergents. The company produces 2.75 million short tons, has 60+ years of mining reserves and generated $119m in 2017 … [Read more...]
Best Companies Screen That Beats The Market
The idea behind this was to see if I could come up with a screen that included the characteristics of a great company and backtested well. So what are these characteristics? High returns on capital. High margins. Consistently generate free cash flow. Not too much debt. Stable revenues with either growth or at worse small declines (yes even the best companies … [Read more...]
David Einhorn
David Einhorn is the founder of Greenlight Capital, a long-short value-oriented fund. He has had an excellent record of generating 16.5% annual return from 1996-2016, yet from his public appearances appears very down to earth. His fight against Applied Capital is documented in his New York bestseller "Fooling some of the people, all of the time". He also shorted Lehman … [Read more...]
Why I’m Long HCA Holdings
Summary: The stock is cheaply priced for its strong fundamentals. The company's business is recession proof with a moat. If the company continues on its current path, then shareholders will be rewarded with significantly above-average returns. HCA Holdings (HCA) is a long position that I hold in my personal portfolio. This article discusses the reasons I … [Read more...]
Icahn And Starboard Could Be Betting On The Wrong Horse
Summary: Icahn and Starboard built positions in Newell Brands. Starboard will no longer try to replace the entire board. Both activists have seats with Icahn supporting the current plan. The Jarden acquisition was ridiculously expensive and promised growth and profits have yet to be realized. The company is riskier than investors may realize. EPS is guided as flat … [Read more...]
Norbord: An Indirect Play On Housing
If you are looking for a way to profit from an improving housing market then Norbord is worth checking out. A material used in houses is oriented strand board. Norbord is a pure play on the commodity. If demand for housing and thus OSB continues, then Norbord has yet to achieve peak cycle. The housing market still remains below the historical average. This is an idea that … [Read more...]
Taking Some Profit In Abercrombie
I've been interested in Abercrombie & Fitch (ANF) since it appeared as a potential investment in my value model. In 2015, I made a quick profit of around 25% and over the last year, I've repositioned myself as the stock dropped below intrinsic value and went to a full position at $12. I had thought that American Eagle could have purchased the company but in a surprise … [Read more...]
