We all know Warren Buffett's remarks on burgers. A little burger I noticed this week was Fleetwood (FWD), down 74% over the past twelve months! The end of the mining boom has left a business with an earnings gap and poor returns on capital. While most people would not dare... Show More
The one-armed bandit. Ainsworth Game Technology Limited (AGI) provided a positive trading update and guidance at its AGM 20th November. There was a positive outlook, but we are bearish: 1. The rosy outlook has largely been reflected by covering analysts and more than reflected in its 19.2x forward multiple. 2.... Show More
How we beat the street. Thursday 21st November was the one-month anniversary of the FE 200 model portfolio. It's been a great month - returning 2.5% more than the ASX 200! This is because of good quality companies with better earnings prospects. But our banking sector call helped a lot... Show More
Saputo will win the cheesy war. We take a look at the players for Warrnambool Cheese (WCB) and find that Saputo has immense buying power -- just on interest rate differentials, it could theoretically pay $15 for WCB. However, it won't -- like a poker match, it just needs to... Show More
Since WCB, we've had a look at Ag stocks -- bit of a punt, but we reckon BUG, SHV, TAN, AAC look interesting on strategic value, simple ops and decent performance in what is a rough sector... e-mail us for report (mail@fairmontequities.com) Show More
Time to Pivot to Incitec (IPL) --- reporting monday -- at 12.5 times, what could go wrong? Msg me for our report! Show More
BLACKMORES (BKL) -- has had a hard time since my September 24 negative call -- I still see some pain
BLACKMORES (BKL) -- has had a hard time since my September 24 negative call -- I still see some pain ! (If you want to read my Blackmores report, msg me!) Show More
I'll be speaking at a property conference this Wednesday --- if you're interested let me know!!! (ninus@fairmontequities.com) http://www.icontact-archive.com/3u8Ux1ZFUb2LdH_E4gAIoV7jYPoRNH2U?w=4#! Show More
Looking at its past and its articulated, conservative strategy based on cash flow generation, we are confident the firm is able to provide the returns going forward to allow a certain payback on investment at current share prices. As the market becomes more sure of this, itsearnings multiple will re-rate accordingly. On this basis of fundamental investing, we would be quite happy buying Incitec at current levels. Contact me at ninus@fairmontequities.com
On Time to Pivot to Incitec (IPL) --- reporting monday -- at 12.5 times, what could go wrong -