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Recent Articles
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Valuentum's Dividend Growth Newsletter Portfolio
Sep 30, 2024
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We disclose the holdings of the Dividend Growth Newsletter portfolio in this article. This portfolio can always be found in each edition of the monthly Dividend Growth Newsletter.
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View Current and Archived Dividend Growth Newsletters
Sep 30, 2024
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View previous editions of the Dividend Growth Newsletter in this article. At Valuentum, we seek to deliver to our subscribers the best dividend growth ideas, and our Dividend Growth Newsletter does just that for dividend growth investors. The Dividend Growth Newsletter portfolio puts into practice our rigorous valuation and dividend growth frameworks. The Dividend Growth Newsletter portfolio is generally found on page 5 of each edition.
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Carnival Corp. Experiencing Strong Demand
Sep 30, 2024
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Image: Carnival’s shares have traded sideways since the beginning of 2024.
We like the demand momentum behind Carnival’s business, but its balance sheet keeps us on the sidelines. The company ended the quarter with $1.5 billion in cash and $28.9 billion in long-term debt. Fitch rates the company’s debt as non-investment grade with a BB credit rating. S&P rates its debt at BB and Moody’s B1. The company’s economic returns aren’t that much greater than its cost of capital either, even during good times. Carnival’s shares have been roughly flat year-to-date.
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DOJ Antitrust Lawsuits Targeting Our Top Two Ideas: V and GOOG
Sep 30, 2024
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Image: Alphabet's and Visa's shares have performed remarkably well since the beginning of 2023.
We received a number of questions regarding the DOJ's investigation into anticompetitive practices for two of the top ideas in the Best Ideas Newsletter portfolio. Antitrust news with respect to Alphabet’s ad search business and Visa’s debit card business is nothing surprising, but it speaks to the positives and dominance behind their business models, something we like quite a bit. Any outcome of an antitrust lawsuit is uncertain and could result in a settlement and potential other action, including divestitures.
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