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If he didn’t have much in international, this would not be the name that he would be looking at right now. Iron ore is very dependent on the demand for steel. With the slowdown in construction, and housing in particular, and China, he expects it to continue. He would avoid any of the iron ore companies.
If he didn’t have much in international, this would not be the name that he would be looking at right now. Iron ore is very dependent on the demand for steel. With the slowdown in construction, and housing in particular, and China, he expects it to continue. He would avoid any of the iron ore companies.
This is a good integrated company, but he prefers Total (TOT-N).
This is a good integrated company, but he prefers Total (TOT-N).
The whole Macau gaming sector has been selling off of late, partly because of fears of a slowdown in China, and partly because they have had really good runs, so it may be a bit of a technical selloff. There have been a few missteps with the VIP and the junkets. Longer-term he sees gaming in Macau growing, but you might want to wait for a better entry point.
The whole Macau gaming sector has been selling off of late, partly because of fears of a slowdown in China, and partly because they have had really good runs, so it may be a bit of a technical selloff. There have been a few missteps with the VIP and the junkets. Longer-term he sees gaming in Macau growing, but you might want to wait for a better entry point.
Has avoided this. Prefers Adidas (ADS-GR), which owns TailorMade. Adidas has done very poorly because of TailorMade. Golf demand has waned. The number of rounds played in North America is going down. If this happens, then the demand for equipment is going down. It is much easier to do a turnaround in an industry with the headwind then one with a tailwind. (See Top Picks.)
Has avoided this. Prefers Adidas (ADS-GR), which owns TailorMade. Adidas has done very poorly because of TailorMade. Golf demand has waned. The number of rounds played in North America is going down. If this happens, then the demand for equipment is going down. It is much easier to do a turnaround in an industry with the headwind then one with a tailwind. (See Top Picks.)
They have the World Cup locked up because they are a sponsor for both Argentina and Germany. This has been down this last year, partly because of TailorMade, which has been weak. Also, had some difficulties in the US market. Nike has been gaining share. Thinks Adidas is in the cusp of turning around. TailorMade is bottoming out, and year-over-year numbers should start looking better. Reebok is another problem for them. They are focusing Reebok on CrossFit, and are getting really good traction on that. Sales from World Cup should boost revenues. Yield of 2.09%.
They have the World Cup locked up because they are a sponsor for both Argentina and Germany. This has been down this last year, partly because of TailorMade, which has been weak. Also, had some difficulties in the US market. Nike has been gaining share. Thinks Adidas is in the cusp of turning around. TailorMade is bottoming out, and year-over-year numbers should start looking better. Reebok is another problem for them. They are focusing Reebok on CrossFit, and are getting really good traction on that. Sales from World Cup should boost revenues. Yield of 2.09%.
A really good growth company. Have done a great job of slow and steady growth. They do offshore drilling in China, and China needs a lot of oil. Even if there is a slowdown in housing, there will still be a huge demand for oil. Trading on single-digit multiples with double-digit growth. Yield of 2.69%.
A really good growth company. Have done a great job of slow and steady growth. They do offshore drilling in China, and China needs a lot of oil. Even if there is a slowdown in housing, there will still be a huge demand for oil. Trading on single-digit multiples with double-digit growth. Yield of 2.69%.
This is still one of his top names in his growth fund. With their wealth management business, they have a great opportunity. Shift to a fee-based model should lead to more predictable earnings. Yield of 1.27%.
This is still one of his top names in his growth fund. With their wealth management business, they have a great opportunity. Shift to a fee-based model should lead to more predictable earnings. Yield of 1.27%.
