Multi-stage Dividend Discount Valuation Part 2

We can invest in an intelligent and disciplined manner if we know the price and the value of a company. That is because price is what we pay and value is what we get. Today we venture into Part 2 of the Dividend Discount Valuation, the Multi-stage Dividend Discount Valuation, where we discuss how to […]

Dividend Discount Valuation Part 1

Price is what we pay and value is what we get. The only way we can invest in an intelligent and disciplined manner is to know the difference between the price and value. Today we venture into our first valuation model of this series, the Dividend Discount Valuation.  If you haven’t had a chance, read my introduction to valuation […]

Valuations and Intrinsic Value – The Key to Buy Low, and Sell High

Common sense tells us that the adage “buy low and sell high” captures investment success. Like anything else we buy, we need a reference point to decide if price is low, high, or somewhere else. That reference point is the valuations of the underlying business or its “intrinsic value.” When we buy a share of […]

Slow and Steady Wins the Race — Brookfield Renewable Partners (BEP)

In the last post, I discussed Toronto based Brookfield Renewable Partner’s (BEP’s) strong growth in capacity since their launch in 2011. Two wide competitive moats protect this capacity in North America: low electrical production cost and limited locations for competitors. BEP performed well over the past few years, with a strong growing annual distribution and an […]

Brookfield Renewable Energy Partners (BEP): Protected with Wide Competitive Moats

Brookfield Renewable Partners (BEP) is one of the largest pure play renewable energy companies in the world, with a 100 year history in hydroelectric generation. Their hydro and wind power facilities are in both North and South America, as well as Europe. As both owner and operator, they gain a unique perspective allowing them to […]

Brookfield Infrastructure Partners (BIP) — Valuation Remains Attractive

Do you remember in 2012 when I estimated Brookfield Infrastructure Product’s (BIP) value and thought it was a good buy? In my last post I discussed how it worked out very well for investors who bought it back then. So, is it still a good investment in 2017? Yes, I believe so and this updated valuation shows why BIP […]

Update on Brookfield Infrastructure Partners (BIP)

Brookfield Infrastructure Partners (BIP) was launched in 2008 and grew to become one of the world’s largest owners and operators of infrastructure assets. When we first discussed Brookfield Infrastructure a few years ago we were enthusiastic about their prospects. Let’s check up on them and see what we might expect from them going forward. You’ll recall, infrastructure […]

Allergan (AGN) Update

Allergan Plc (AGN) shares fell about 20 percent in after hour trading Monday [Source] after the U.S. Treasury Department issued rules that would limit “inversion transactions” and the ability of U.S. companies to issue debt to their foreign parents. It appears the rules are aimed at the pending Allergan and Pfizer (PFE) merger. A reader asks: “Does treasury […]

In Volatile Markets, Stay the Course:

Market volatility comes and goes and it’s natural to wonder when it increases if this is the beginning of a correction or bear market. If it is, some wonder, should holdings be pared back or should we wait for better prices to buy more? The question really being asked is: how can we time or predict […]

New Buy Allergen, PLC (AGN)

Pfizer (PFE) and Allergen, PLC (AGN) agreed to merge in a $160 Billion deal announced November 23, 2015 [Source].  It is a tax inversion transaction expected to close in the second half of 2016. Allergan trades at a considerable discount to the offering price offering a potential bargain. Allergan (AGN) and Pfizer (PFE) Investment Thesis: When […]