Published: May 29, 2014
While Fiat, as all other global automakers, operates in abysmal Europe, Fiat-Chrysler is actually less exposed to Europe (as a percent of company revenue) than is Ford. And while Fiat is headquartered in Italy, where the government appears increasingly likely to default in the absence of debt mon...
Published: August 01, 2013
Investors are forgetting that Kia is a fantastic company that has grown share consistently all over the world since its founding by making stylish and high quality vehicles. I don't expect issues with its Union to be substantial this year given the major union victory in and huge cost of last yea...
Published: March 15, 2013
Post restructuring, GM is a radically improved business with earnings growth potential and excess cash for buybacks. As the reality of “New GM” becomes apparent, the stock could double.
Published: October 22, 2012
GM has been at a competitive disadvantage over the last several years given the company’s stale product portfolio among its most profitable platform, full-size trucks. The redesigned full-size trucks, the K2XX platform, could cause production volumes to grow by ~10% in 2013.
Published: September 19, 2012
As predicted, Judge Stefan Puhle did a service to equity markets by throwing out the ridiculous short-selling lawsuits. Shares of Porsche have re-rated to 46 EUR still trading at a massive discount to 76 EUR tangible book comprised simply of 150mm VOW GR shares worth 20.2B EUR today, and 3B in ne...
Published: July 02, 2012
Following the sale of Porsche AG, PAH3 turns into a highly levered, easily modeled, perpetual call option on Volkswagen which I view as being attractively priced at only 3.08x trailing PE, 2.7% dividend yield and with the enlarged company being the strongest automobile manufacturer in the world c...
Published: May 03, 2012
Analyst consensus opinion is that Tesla will achieve near-flawless Model S production, meet or exceed sales targets in 2012 and 2013, and pave the way for the introduction of new models like the X and Gen 3 sedan. The company faces significant challenges in order to execute this strategy successf...