April 2008
April 30, 2008 –
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RELATED TICKERS: TUES
, DEO
, CPB
Morningstar once had Tuesday Morning, a small specialty retailer dealing in overstocked high end goods, rated as narrow moat, average risk, and five stars. Josh Peters bought it for the Dividend Investor portfolio, as it was yielding about 5 or 6%. [more]
April 30, 2008 –
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RELATED TICKERS: PG
, KMB
, CLX
Procter and Gamble beat analyst expectations by a cent. I've maintained that PG will be a good play even in a recession. [more]
April 25, 2008 –
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RELATED TICKERS: FAST
Fastenal, one of my favorite picks, has done very well even in a hostile economic environment. One would think that fastener demand would drop in a recession. However, Fastenal's strategy of adding salespeople, and of reducing its expansion rate, is paying off. They are getting closer to their soft target of 3,500 stores in North America, but even then, they would still have significant market share to take from competitors. Their stores will increase sales as they build customer relationships. They have also made expansions into Canada and Mexico. [more]
April 22, 2008 –
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RELATED TICKERS: RBS
, BAC
, BCS
Earlier, I said I was happy that Barclays lost the bidding war over ABN Amro. I hadn't foreseen the subprime crisis, but it turns out that RBS has had to write down quite a lot of assets, many of which are ABN's assets. I had said, based on Morningstar's report, that ABN's assets were not of high quality. [more]
April 19, 2008 –
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RELATED TICKERS: CSE
I once had picked Capitalsource (CSE) to outperform. I now retract that bet. [more]
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