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ICYMI — Video: Exclusive 2020 — Furthering the Financial Discipline

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ICYMI — Video: Exclusive 2020 — Furthering the Financial Discipline — — In this 40+ minute video jam-packed with must-watch content, Valuentum’s President Brian Nelson talks about the Theory of Universal Valuation and how his work is furthering the financial discipline. Learn the pitfalls of factor investing and modern portfolio theory and how the efficient markets hypothesis holds little substance in the wake of COVID-19. He’ll talk about which companies Valuentum likes and why, and which areas he’s avoiding. This and more in Valuentum’s 2020 Exclusive conference call.   Note: This video was originally published August 2, 2020.    To watch the video >>   The Theory of Universal Valuation —– Valuentum members have access to our 16-page stock reports, … Read more

Lockheed Martin Boosts Guidance

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Image Source: Lockheed Martin Corporation – First Quarter of Fiscal 2021 IR Earnings Presentation By Callum Turcan Geopolitical tensions are on the rise worldwide. In recent weeks, Russian forces started massing on the border with Ukraine (though reportedly, those forces are beginning to pull back) as acrimony between Western governments and Russia continues to grow while the situation in Ukraine (i.e., Russia’s annexation of Crimea and involvement in eastern regions of Ukraine) remains in paralysis. Tensions between the US and China are building as well with an eye towards trading relations, espionage of all kinds, and cyber-attacks. The geopolitical backdrop indicates that the trajectory of defense spending is likely to continue growing in key developed and developing nations worldwide going … Read more

ALERT: Raising Cash in the Newsletter Portfolios

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January 27, 2021 ALERT: Raising Cash in the Newsletter Portfolios We are raising the cash position in the simulated Best Ideas Newsletter portfolio and simulated Dividend Growth Newsletter portfolio to 10%-20%. — By Brian Nelson, CFA — Our research has been absolutely fantastic for a long time, but 2020 may have been our best year yet. You can read the 2020 recap here. With the S&P 500 trading within our fair value estimate range of 3,530-3,920 (and the markets rolling over while showing signs of abnormal behavior), we’re raising the cash position in the Best Ideas Newsletter portfolio and Dividend Growth Newsletter portfolio to 10%-20%. — For more conservative investors, the high end of this range may even be larger, especially … Read more

Lockheed Makes an Intriguing Acquisition

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Image Source: Lockheed Martin Corporation – December 2020 IR Presentation covering Lockheed Martin Corporation’s pending acquisition of Aerojet Rocketdyne Holdings Inc By Callum Turcan On December 20, Lockheed Martin Corporation (LMT) announced it was acquiring Aerojet Rocketdyne Holdings Inc (AJRD) for $56.00 per share in cash, or $51.00 per share after taking into account a special $5.00 per share pre-closing cash dividend payment that Aerojet Rocketdyne plans to pay out. The deal has a total equity value of ~$5 billion when including the special dividend component and is expected to close in the second half of 2021. In our view, this deal is highly complementary to Lockheed Martin’s existing operations. Combining Aerojet Rocketdyne’s propulsion and power systems business segments with … Read more

We Expect to Raise Our Fair Value Estimate of Honeywell

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Image: Honeywell’s Third Quarter 2020 Earnings Release Slide Deck By Brian Nelson, CFA With GE’s (GE) fall from grace years ago, Honeywell (HON) has taken the reigns as one of Valuentum’s top industrial ideas. That said, we don’t include Honeywell in any newsletter portfolio given weakening fundamentals and an increased net debt position, but it remains top of mind should our existing holdings start to register ratings on the Valuentum Buying Index that may start to point to some profit taking. Honeywell yields just north of 2%. We continue to expect our newsletter holdings to perform relatively better against a strengthening economic backdrop, and that means for us, Honeywell will remain on the bench. During Honeywell’s third quarter, results released … Read more

3 Lessons in Portfolio Management Over 10 Years

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Dear members: — We’re finally getting a pause in the rapid ascent of the markets on September 3rd. Though headlines may look scary and momentum/volatility investors could start to pile on to the downside, a modest retracement is actually a good thing. We continue to focus on the long haul with our processes, and we’re viewing the sell-off as profit taking, for the most part. — In the near term, the markets will also have to digest some speculators betting on mean reversion between “value” (cyclical) versus “growth” (secular), but we maintain the view that the value-versus-growth conversation is largely nonsense (see block quotes below), and mean reversion is something akin to the gamblers’ fallacy, in my humble opinion. Investors should also continue … Read more

Valuentum Website Overview

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Overview of the key features of valuentum.com/ (03:55). Valuentum (val∙u∙n∙tum) [val-yoo-en-tuh-m] Securities Inc. is an independent investment research publisher, offering premium equity reports, dividend reports, and ETF reports, as well as commentary across all sectors/companies, a Best Ideas Newsletter (spanning market caps, asset classes), a Dividend Growth Newsletter, modeling tools/products, and more. Independence and integrity remain our core, and we strive to be a champion of the investor. Valuentum is based in the Chicagoland area. Valuentum is not a money manager, broker, or financial advisor. Valuentum is a publisher of financial information. The Benefits of Premium Membership >> Subscribe Now!

Latest Stock Report Updates

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—– — Valuentum members have access to our 16-page stock reports, Valuentum Buying Index ratings, Dividend Cushion ratios, fair value estimates and ranges, dividend reports and more. Not a member? Subscribe today. The first 14 days are free.

Two Exciting Names for Your Radar: PENN, SPCE

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“Davey the Day Trader” meets space flight in this article that sums up the goings-on at two exciting companies, Penn National and Virgin Galactic. We think shares of PENN are fairly valued at the moment, and we won’t be taking a “flier” on Virgin Galactic, but we still think it is one worth watching. By Brian Nelson, CFA Penn National Gaming (PENN) Image Source: Penn National Gaming Dave Portnoy, “Davey the Day Trader,” has taken the investment community by storm, and not just because he lost a cool mil on Remark (MARK). He’s been taking on the “suits” of Wall Street as he calls it, and while the entertainment “value” is excellent, there’s just not much going on other than … Read more

Earnings Update: LMT, ISRG, KO, PM

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By Brian Nelson, CFA We released a few preliminary thoughts on second quarter earnings in our note here, but we wanted to elaborate on a few new reports, too. Lockheed Martin (LMT) is included in the Dividend Growth Newsletter portfolio (login required), while Intuitive Surgical (ISRG) was highlighted as a COVID-19 play during the March swoon. Coca-Cola (KO) remains an excellent bellwether on the global economy, while Philip Morris (PM) remains a holding in the High Yield Dividend Newsletter portfolio (subscribe). Let’s cover the second quarter reports from these companies in this note. Lockheed Martin Achieves Record Backlog Things are looking good for Dividend Growth Newsletter portfolio holding Lockheed Martin. The company’s second-quarter results, released July 21, showed the defense … Read more