In this episode of What’s Not Priced In, Greg Canavan and I tackle one of the biggest questions of them all: What is a stock worth? And how do you value it?
Are Dividends Irrelevant? The Dividend Puzzle
In today’s Money Morning…what the hell does this have to do with dividends?…the key to understanding Miller and Modigliani…why stocks fall when they trade ex-dividend or when they make out a hefty special dividend…and more…
What’s Not Priced In #9: Look Out! Aussie Stocks AREN’T Cheap
In this week’s episode, I talk to Katana Asset Management Portfolio Manager Romano Sala Tenna. Katana has generated long term outperformance (resulting in significant compounding effects) and is currenting sitting on a 35% cash weighting.
What Really Matters When Picking Stocks?
If you’re a stock picker, how much attention should you pay to macroeconomic issues? It’s not the business, it’s the M-1…what’s happening inside a business almost always trumps what’s going on outside of it…and more…
What’s Not Priced In #8: CPI Head Fake
This episode, we pondered the implications of the positive inflation data in the US. The key question is, is the cause behind the disinflation falling aggregate demand or normalising supply?
Dividends: The Key to Finding a Stock’s True Worth
What is a stock worth? How to calculate intrinsic value? A poem from a seminal dissertation may help: a cow for her milk, a hen for her eggs, and a stock, by heck, for her dividends.
What’s Not Priced In #7: Market’s Asleep to Jaws of Death?
Today we have something a little different…a wrap up of the latest episode of the What’s Not Priced In podcast. This week, Greg and Kiryll struggled to find the right analogy to explain the bullish sentiment over in the US. They then had a great discussion on whether the mega-cap tech stocks have any parallels to the Nifty Fifty growth stocks of the 1970s. They then turned to Australia, discussing the more grounded sentiment of Aussie investors, the weakening Aussie dollar and the outlook for key commodities like copper and iron ore as China’s economic recovery continues to disappoint. They also wrap up with their stock for the week. Tune in below…
EVs, Lithium and the Big Market Delusion
Tesla shares have more than doubled in the first six months of 2023, rebounding after a tough 2022. The carmaker is the most visible firm associated with the transition to EVs and the green energy transition more broadly. And its success has spurred the entry of competitors the world over. Snaring even a fraction of that pie will be more than enough, the thinking goes. But that’s what I want to discuss today — the perilous reliance on big markets to evaluate a stock’s potential…
Dividends…More Important than Earnings?
If we shouldn’t rely on earnings per share (EPS) for valuation, as I concluded last week, what should we rely on? If not EPS, then what? How about dividends? Read on…
What’s Not Priced In #6: Explaining the Gold Price Mystery
The determining factor behind the gold price and what it says about the outlook for gold. Why real rates matter. The latest inflation and retail sales data. Retail stocks rebounded this week, but don’t get too excited the bottom is in just yet. And we look at two stocks selling cheese and chicken. One of the stocks hasn’t aged nearly as well as a good Cheddar.
