Shane Obata
Member since: Sep '19
Portfolio Manager at
Middlefield Capital
Middlefield Capital
29 Opinions
Latest Top Picks
His favorite company in the world. They continue to grow revenues at 20% per year under 9 different products. Two products have over two billion users each (Android and YouTube). Maps remains one of the most under-monetized assets, giving lots of upside growth yet to come. Yield 0% (Analysts’ price target is $1402.31)
They have 62 million subscribers in the US and over 90 million elsewhere. In 2018, international revenues exceeded domestic. Loss of content will not cause viewers to leave -- it is still streaming versus linear tv. He still thinks they do well. Yield 0% (Analysts’ price target is $374.01)
A defensive real asset holding. A Spanish listed infrastructure company with a list of world-class assets. They own over 43% of the 407 ETR -- high quality, high margin business with a long life (until 2098). It trades at a premium to peers, but there is still catch up in value, he believes. Yield 2.77% (Analysts’ price target is $29.08)
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COMMENT
COMMENT
September 27, 2019
Market Outlook You have to remain invested. We are capped on the upside with trade uncertainty, while the central banks are providing support. You need to consider a bar bell approach. You want to hold companies that will continue to benefit from secular themes, balanced against defensive holdings. He likes real assets like real estate and infrastructure. Worries of the US restricting flows into the Chinese markets is likely posturing. Negative interests are an abnormal environment and it is making defensive sectors like utilities more interesting.
Market Outlook You have to remain invested. We are capped on the upside with trade uncertainty, while the central banks are providing support. You need to consider a bar bell approach. You want to hold companies that will continue to benefit from secular themes, balanced against defensive holdings. He likes real assets like real estate and infrastructure. Worries of the US restricting flows into the Chinese markets is likely posturing. Negative interests are an abnormal environment and it is making defensive sectors like utilities more interesting.
Shane Obata
Portfolio Manager, Middlefield Capital
HOLD
HOLD
September 27, 2019
He continues to like this company. It has been an out-performer. Consumer staples are coming under pressure. You are okay staying with this. They are well diversified from coffee to pet food.
He continues to like this company. It has been an out-performer. Consumer staples are coming under pressure. You are okay staying with this. They are well diversified from coffee to pet food.
food processing
BUY
BUY
September 27, 2019
He would be a buyer. They are a great company with multiple businesses under one roof. These also subsidize the build out of the existing business. They are a top player in Cloud technologies. Prime adoption numbers are increasing. One-day shipping may require additional costs, but this will open the door perishables in the near future.
He would be a buyer. They are a great company with multiple businesses under one roof. These also subsidize the build out of the existing business. They are a top player in Cloud technologies. Prime adoption numbers are increasing. One-day shipping may require additional costs, but this will open the door perishables in the near future.
specialty stores
COMMENT
COMMENT
September 27, 2019
precious metals
COMMENT
COMMENT
September 27, 2019
precious metals
COMMENT
COMMENT
September 27, 2019
Japan? Japan is the King of negative rates. It has been tough for banks there. You probably want to stay away from regions with negative interest rates in general. If you want global exposure, you may want to hold US banks who have expanded globally.
Japan? Japan is the King of negative rates. It has been tough for banks there. You probably want to stay away from regions with negative interest rates in general. If you want global exposure, you may want to hold US banks who have expanded globally.
Shane Obata
Portfolio Manager, Middlefield Capital
HOLD
HOLD
September 27, 2019
He likes this company, but it is not as cheap as it was back in December. Investors are mistakingly waiting for the next big device -- it is not coming, he thinks. You want to focus on the 1.5 billion of installed devices -- a great way to keep customers stuck with your company (cloud, tv, etc.). The iPhone has become a much smaller part of the pie -- it represents less than 50% of their revenues today.
He likes this company, but it is not as cheap as it was back in December. Investors are mistakingly waiting for the next big device -- it is not coming, he thinks. You want to focus on the 1.5 billion of installed devices -- a great way to keep customers stuck with your company (cloud, tv, etc.). The iPhone has become a much smaller part of the pie -- it represents less than 50% of their revenues today.
electrical/electronic
BUY
BUY
September 27, 2019
He would buy it at current levels. They own it now. There is still good upside. Looking back over 5 years, it has under-performed relative to the general market. They need to get more savvy on the operations of their company. This means staying focused.
He would buy it at current levels. They own it now. There is still good upside. Looking back over 5 years, it has under-performed relative to the general market. They need to get more savvy on the operations of their company. This means staying focused.
Telecommunications
HOLD
HOLD
September 27, 2019
Warren Buffet is still the best investor of all time. However, it has become too big to have investments move the needle. A good blue-chip holding, but don't expect it to out perform the market.
Warren Buffet is still the best investor of all time. However, it has become too big to have investments move the needle. A good blue-chip holding, but don't expect it to out perform the market.
insurance
HOLD
HOLD
September 27, 2019
Warren Buffet is still the best investor of all time. However, it has become too big to have investments move the needle. A good blue-chip holding, but don't expect it to out perform the market.
Warren Buffet is still the best investor of all time. However, it has become too big to have investments move the needle. A good blue-chip holding, but don't expect it to out perform the market.
insurance
COMMENT
COMMENT
September 27, 2019
White House has discussed de-listing Chinese companies We all want this situation to get better. Let's hope they do not de-list companies and worsen things.
White House has discussed de-listing Chinese companies We all want this situation to get better. Let's hope they do not de-list companies and worsen things.
Shane Obata
Portfolio Manager, Middlefield Capital
COMMENT
COMMENT
September 27, 2019
Impact of negative interest rates? A lack of alternatives is driving investors right now. Equities are still the place to be. We need to see earnings growth again to bring focus to the market. CEOs are getting concerned about changes in business decisions -- delays in capital expenditures, for example. US Consumers are still in a good spot and so is labour. As long as the US consumer is doing well, remain in equities.
Impact of negative interest rates? A lack of alternatives is driving investors right now. Equities are still the place to be. We need to see earnings growth again to bring focus to the market. CEOs are getting concerned about changes in business decisions -- delays in capital expenditures, for example. US Consumers are still in a good spot and so is labour. As long as the US consumer is doing well, remain in equities.
Shane Obata
Portfolio Manager, Middlefield Capital
COMMENT
COMMENT
September 27, 2019
VZ-N or T-N? VZ-N is a high-quality operator, especially in wireless. Their ROC is 5 times higher than the peer group. You can expect them to continue and are well positioned for 5G, which is beginning to roll out in the US already. This can take market share away from some of the cable companies. He still prefers AT&T (yield 5.4%) as they have more upside once they clear away their current operations inefficiencies. Yield 4.0%
VZ-N or T-N? VZ-N is a high-quality operator, especially in wireless. Their ROC is 5 times higher than the peer group. You can expect them to continue and are well positioned for 5G, which is beginning to roll out in the US already. This can take market share away from some of the cable companies. He still prefers AT&T (yield 5.4%) as they have more upside once they clear away their current operations inefficiencies. Yield 4.0%
Telecommunications
COMMENT
COMMENT
September 27, 2019
VZ-N or T-N? VZ-N is a high-quality operator, especially in wireless. Their ROC is 5 times higher than the peer group. You can expect them to continue and are well positioned for 5G, which is beginning to roll out in the US already. This can take market share away from some of the cable companies. He still prefers AT&T (yield 5.4%) as they have more upside once they clear away their current operations inefficiencies. Yield 4.0%
VZ-N or T-N? VZ-N is a high-quality operator, especially in wireless. Their ROC is 5 times higher than the peer group. You can expect them to continue and are well positioned for 5G, which is beginning to roll out in the US already. This can take market share away from some of the cable companies. He still prefers AT&T (yield 5.4%) as they have more upside once they clear away their current operations inefficiencies. Yield 4.0%
telephone utilities
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