Published: October 29, 2012
Public peers like Estee Lauder and L’Oreal currently trade for around 13x EBITDA on a total enterprise-value basis, with market cap. to free cash flow multiples of about 25x on average. Revlon, at today's closing price of $15.10, trades at a TEV/EBITDA multiple of 8x and a mkt. cap./FCF multiple ...
Published: September 05, 2012
There will be no highflying heroics in my idea. Just standing under the bucket consistently and reliably hitting three point layups. Yes, three point layups. Buying a great company at a fair price that will grow over time is a two point layup and a reliable and consistent path to investment succe...
Published: July 20, 2012
Learning from one’s mistakes is a central principle of investing that many greats point towards as what has driven them toward success. Mistakes are inevitable; but they need not be repeated over and over again. In that vein, Zeke Ashton (Centaur Capital) put together an excellent self-critique o...
Published: July 13, 2012
Just one day after we posted the Procter & Gamble (NYSE: PG) short thesis that appears above onto the public SumZero News section, rumors began to surface that legendary activist investor Bill Ackman (Pershing Square) purchased a sizable position in the consumer goods giant.
Published: July 11, 2012
The problem at P&G is more on innovation and the complacency than execution. P&G used to differentiate themselves by a huge pool of innovative products, branding strategies and full analysis of consumer behavior. Those edges faded away in recent years, especially after the turmoil in 2000.
Published: July 11, 2012
The problem at P&G is more on innovation and the complacency than execution. P&G used to differentiate themselves by a huge pool of innovative products, branding strategies and full analysis of consumer behavior. Those edges faded away in recent years, especially after the turmoil in 2000.
Published: June 25, 2012
Generally the purpose of the SumZero site is to present obscure companies trading at significant discounts to their underlying intrinsic values. However, periodically "Mr. Market" undervalues large, well-known, blue-chip, high quality companies. I believe Procter & Gamble (NYSE: PG) is in this ca...
Published: June 25, 2012
Generally the purpose of the SumZero site is to present obscure companies trading at significant discounts to their underlying intrinsic values. However, periodically "Mr. Market" undervalues large, well-known, blue-chip, high quality companies. I believe Procter & Gamble (NYSE: PG) is in this ca...