Browsing All Posts published on »June, 2011«

Back Next Week

June 24, 2011


Apologies about the recent lack of posts – I’ve been otherwise engaged.  CautiousBull should be back in action later next week.  In the meantime, you can follow me on Twitter or subscribe to the RSS feed to get new posts as soon as they’re ready.

Is ASOS plc Overvalued?

June 14, 2011


Taken from the company’s own website, ASOS plc describes itself as: ASOS is a global online fashion and beauty retailer and offers over 50,000 branded and own label product lines across womenswear, menswear, footwear, accessories, jewellery and beauty with approximately 1,500 new product lines being introduced each week. Aimed at fashion forward 16-34 year olds […]

Chinese Property Developer Shui On Land Faces A Liquidity Squeeze

June 14, 2011


As you may have seen from my Twitter feed yesterday, I learned that I didn’t get (yet another) job that I recently interviewed for.  However, the upside of this is I can now share the presentation that I made at the second round of the interview process.  I was asked to perform a credit analysis […]

10 Reasons to Be Bullish on the US Economy

June 10, 2011


The last few weeks have seen equities sell-off sharply, with the S&P 500 index declining by 7% from its peak at the end of April, wiping-out almost all of the gains previously achieved during 2011.  This sell-off has accelerated following the release of two negative macroeconomic data-points: (1) the ISM manufacturing PMI, which came in […]

Reader Question: Should I Invest In Gold and Silver?

June 10, 2011


After the sale of a property I now have some money to invest. I’m sceptical of advice given to me because I’m not that knowledgable & don’t want to lose it. I’m looking for something safe to beat inflation. Would gold/silver be a good way to invest? Thanks. Firstly, you should note that I’m not […]

The Power of Brands

June 8, 2011


Yesterday, after what felt like a couple of hours of trying to scratch my eyeballs out of their sockets, I decided it would be sensible to make my annual purchase of anti-hayfever tablets.  Arriving at the local supermarket, I found a number of branded and unbranded products on sale.  The two leading branded products in […]

Robert Wiseman Dairies

June 7, 2011


Well-done to all the readers who correctly identified the mystery company discussed earlier this week was indeed Robert Wiseman Dairies plc.  Unfortunately, no prizes are on offer, but with this post I do include a much more detailed analysis of the business. Robert Wiseman owns and operates seven major milk processing dairies in the United […]

Misunderstanding Enterprise Value: The Economist & Financial Times Edition

June 6, 2011


From the Lex column (“Renault: carmaker is running on empty“) in the Financial Times on 31st May 2011: Subtract the market value of Renault’s stakes in Nissan, Avtovaz of Russia, Daimler and Volvo, and the stub value of the French carmaker is negative: minus €15 a share. From the Economist (“Renault’s woes“) on 4th June […]

Liberty Global Break-Up Value

June 2, 2011


I’ve written previously on the investment attractions of Liberty Global Inc (here and here), but in this post I’ve decided to tackle the issue of valuation from a slightly different angle by attempting to calculate what the individual parts of the business would be worth in the event it was broken up.  The table below […]