DFS

Nelson: Is Visa the Best Company Ever?

by


Image Source: Visa’s fiscal fourth-quarter 2017 earnings slide deck. 

Visa’s business model is phenomenal and its competitive advantages among the best in the world. The company’s free cash flow generation is remarkable, and it alone covers its cash dividend payment by more than 5 times. There are few companies with higher levels of profitability than Visa’s, and even fewer that also have as strong of growth potential. The company’s valuation is starting to get a little stretched, but it has the free-cash-flow generation to grow into it.

The Fed’s Dislocation and Too Few Stocks?

by

President of Investment Research Brian Nelson talks about how central banks may be pushing savers into riskier assets than what might otherwise be warranted by their risk profiles, how interest rates should be viewed within the valuation context, and whether too few stocks to invest in is driving a ‘rising tide lifts all boats’ dynamic. A discussion about the severe limitations of the price-to-earnings ratio is included. Running time: ~14 minutes.

Bank Valuations and We’re All Market Timers?

by

President of Investment Research Brian Nelson dives into questions about why an enterprise free cash flow model is not used for banking and insurance entities, and offers up the idea that we all might be market timers. What do you think? Running time: ~14 minutes.

Video: Quants! You’re NOT Measuring VALUE and Nelson’s Theory of Universal Value

by

President of Investment Research Brian Nelson defines the concept of universal value and shows how quantitative statistical methods are inextricably linked to those of fundamental, financial, business-model related analysis. Value does not exist in respective process vacuums! Value is universal. Find out why. Running time: ~10 minutes.  Tickerized for Valuentum’s stock and ETF coverage universe. Transcript Hi this is Brian Nelson from Valuentum Securities, and this is the tenth edition of a series that I call “Off the Cuff,” where I get in front of the camera and I talk for ten minutes. This is what we have to talk about today. We have to talk about this concept: The Theory of Universal Value. Value does not exist in vacuums … Read more

Video: North Korea, Indexing, and ETFs

by

President of Investment Research Brian Nelson talks about the non-zero probability of nuclear war, lofty equity market valuations, the impact of ultra-low interest rates, the Bitcoin phenomenon, the importance of paying attention to financial adviser fees, as well as the pitfalls when it comes to assigning styles to ETFs. Running time: ~11 minutes. Aerospace & Defense – Prime: BA, FLIR, GD, LLL, LMT, NOC, RTN Banks – Regional and Asset Management: AB, AINV, AMP, ARCC, BCH, BEN, BGCP, BKU, BLK, BMO, BNS, CM, FSIC, ISBC, KKR, LAZ, LM, MAIN, MTB, NABZY, NYB, OCN, PBCT, PFG, PSEC, RY, SBNY, SBSI, STT, TCAP, TD, VLY, WBK  Banks & Money Centers: AXP, BAC, BBT, BK, C, DFS, FITB, GS, HBC, JPM, KEY, MS, NTRS, PNC, … Read more

Documentary: The Bitcoin Phenomenom

by

Produced for SQ1.tv, this Bitcoin documentary looks at the history, the ideologies, and the conflict between the politics of the early-adopters and the VCs/entrepreneurs pushing to take Bitcoin mainstream. Source: SQ1.tv. Financial Tech Services: ACIW, EPAY, FDC, FIS, FISV, FLT, GPN, MA, MELI, PAY, PYPL, V, VNTV, VRSK, WEX, WU Banks – Regional and Asset Management: AB, AINV, AMP, ARCC, BCH, BEN, BGCP, BKU, BLK, BMO, BNS, CM, FSIC, ISBC, KKR, LAZ, LM, MAIN, MTB, NABZY, NYB, OCN, PBCT, PFG, PSEC, RY, SBNY, SBSI, STT, TCAP, TD, VLY, WBK  Banks & Money Centers: AXP, BAC, BBT, BK, C, DFS, FITB, GS, HBC, JPM, KEY, MS, NTRS, PNC, RF, STI, TCB, USB, WFC

Bitcoin’s Price Leaps Toward $11,000

by

Image shown: Cryto-currencies are in vogue, and the most popular Bitcoin has “gone exponetial.” This is incredible. Bitcoin has caught the financial markets by storm, and the ranks of the greedy are driving its price ever higher. Financial Tech Services: ACIW, EPAY, FDC, FIS, FISV, FLT, GPN, MA, MELI, PAY, PYPL, V, VNTV, VRSK, WEX, WU Banks – Regional and Asset Management: AB, AINV, AMP, ARCC, BCH, BEN, BGCP, BKU, BLK, BMO, BNS, CM, FSIC, ISBC, KKR, LAZ, LM, MAIN, MTB, NABZY, NYB, OCN, PBCT, PFG, PSEC, RY, SBNY, SBSI, STT, TCAP, TD, VLY, WBK  Banks & Money Centers: AXP, BAC, BBT, BK, C, DFS, FITB, GS, HBC, JPM, KEY, MS, NTRS, PNC, RF, STI, TCB, USB, WFC

Does Visa Ever Disappoint?

by

Image Source: Visa The credit card network hit all-time highs today. We continue to be huge fans of the company’s fundamentals. By Brian Nelson, CFA Another day, another new high for top-weighted idea in the Best Ideas Newsletter portfolio, Visa (V). Briefing Investor said it succinctly: Visa…is trading at a new all-time high after the company reported better than expected fourth quarter results and gave encouraging guidance for fiscal 2018… Visa owns a global payment network. Unlike American Express (AXP) and Discover (DFS), which own payment networks and issue credit, Visa doesn’t take any credit risk — Capital One (COF) is a bank that issues a lot of credit cards. Visa is a technology company in the financial sector, just … Read more

ETF Analysis: Banks and Financials

by

Please select the image below to download the report. Tickerized for ETFs under coverage and stocks included in the XLF.