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Recent Articles
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Qurate Retail Faces Difficult Turnaround Process
Jun 17, 2022
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Image Source: Qurate Retail Inc – First Quarter of 2022 IR Earnings Presentation.
Executive Summary: Qurate Retail Inc is home to several well-known retail brands including QVC and HSN that operate television networks and online marketplaces that sell curated products. The company is contending with several exogenous shocks such as inflationary pressures and supply chain hurdles, while customer engagement levels are on the decline after growing during the initial phases of the COVID-19 pandemic. Qurate Retail has a massive net debt load and sizable annual financing obligations, and its margins have deteriorated substantially of late. Due to its complex share structure and management organization, weak financial position, and lackluster outlook, we are not interested in Qurate Retail’s common or preferred shares at this time. Qurate Retail is too risky for our taste.
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Dividend Increases/Decreases for the Week of June 17
Jun 17, 2022
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Let's take a look at firms raising/lowering their dividends this week.
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Prologis Buying Duke Realty as Logistical Real Estate Market Consolidates Further
Jun 14, 2022
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Image Shown: Prologis Inc is merging with Duke Realty Corporation through an all-stock acquisition that will see Prologis cement itself as a logistical real estate powerhouse in the US and worldwide. Image Source: Duke Realty Corporation / Prologis Inc – June 2022 IR Presentation announcing the acquisition of Duke Realty by Prologis.
On June 13, Prologis Inc announced it was buying Duke Realty Corporation through an all-stock transaction worth ~$26 billion when including the assumption of debt. In the wake of severe capital market volatility, some major deals in the real estate investment trust (‘REIT’) space are still getting done. Back in May 2022, Duke Realty rejected Prologis’ previous offer worth ~$24 billion as being “insufficient” which prompted Prologis to sweeten the pot to get a deal done.
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Stocks Up 70%+ Since COVID-19 Pandemic Bottom, Best Ideas Outperforming So Far in 2022
Jun 14, 2022
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Image Source: Mike Cohen.
Investors should be looking for opportunities today, while others around them are panicking, especially those that leveraged into crypto many months ago near the peak. We continue to be huge fans of the areas of large cap growth and big cap tech as these areas not only are flush with entities that have strong cash-based sources of intrinsic value but also have been beaten down unfairly in recent months, in our view. It may be hard to believe, but we’re staying the course. We like stocks for the long haul, and we don’t expect anything like what happened during the COVID-19 meltdown or the Great Financial Crisis. This is but a "normal" bear market in our view, and we still believe stocks could make a huge rebound in the near term.
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