Latest Expert Opinions

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
August 20, 2018

They've invested in areas of tech that many are interested in. But can they truly achieve their objective? It's a holding company--you take arisk that over time they end up with a discount from NAV. Don't buy this, but invest in an area they are in that interests you instead.

SoftBank Corp (9984-JP)
August 20, 2018

They've invested in areas of tech that many are interested in. But can they truly achieve their objective? It's a holding company--you take arisk that over time they end up with a discount from NAV. Don't buy this, but invest in an area they are in that interests you instead.

David Fingold
VP and Portfolio Manager, Dynamic Funds
Price
$0.000
Owned
Unknown
DON'T BUY
DON'T BUY
August 20, 2018

Avoid it. He doesn't want to be in any of their businesses: no growth. Can't sell their rail business which is deteriorating, which begs the question, How badly do they need capital? They have a lot of debt. What do they make that he'd want to invest in? Nothing.

General Electric (GE-N)
August 20, 2018

Avoid it. He doesn't want to be in any of their businesses: no growth. Can't sell their rail business which is deteriorating, which begs the question, How badly do they need capital? They have a lot of debt. What do they make that he'd want to invest in? Nothing.

David Fingold
VP and Portfolio Manager, Dynamic Funds
Price
$12.300
Owned
No
WATCH
WATCH
August 20, 2018

He owned a lot of it after the recession, but now they have no unit growth. He's concerned about what would happen if unit volumes went negative. Product launches in September should benefit them, though. Also, they have a lot of runway to expand services (e.g. apps, streaming music).

Apple (AAPL-Q)
August 20, 2018

He owned a lot of it after the recession, but now they have no unit growth. He's concerned about what would happen if unit volumes went negative. Product launches in September should benefit them, though. Also, they have a lot of runway to expand services (e.g. apps, streaming music).

David Fingold
VP and Portfolio Manager, Dynamic Funds
Price
$215.460
Owned
No
DON'T BUY
DON'T BUY
August 20, 2018

He owns zero tobacco, because volumes are declining worldwide. Also, e-cigarettes are replacing Thirdly, they are overexposed to emerging markets where currencies have fallen the most.

He owns zero tobacco, because volumes are declining worldwide. Also, e-cigarettes are replacing Thirdly, they are overexposed to emerging markets where currencies have fallen the most.

David Fingold
VP and Portfolio Manager, Dynamic Funds
Price
$0.000
Owned
No
DON'T BUY
DON'T BUY
August 20, 2018

It has valuable franchises, but he sold it at the start of 2018. Like everyone, he can't figure out the growth rate. There appears to be a decline in core Facebook users in America, which is a worry. Meanwhile, there are increasing costs.
Does the company understand the costs to meet compliance (i.e. to remove hate posts)? He predicts they will find an algorithm to solve this. They'll likely need 12 months to solve this problem. Now, he's concerned about their tone-deaf
attitude to the fears of governments, and to declining usage in some countries.

Facebook (FB-Q)
August 20, 2018

It has valuable franchises, but he sold it at the start of 2018. Like everyone, he can't figure out the growth rate. There appears to be a decline in core Facebook users in America, which is a worry. Meanwhile, there are increasing costs.
Does the company understand the costs to meet compliance (i.e. to remove hate posts)? He predicts they will find an algorithm to solve this. They'll likely need 12 months to solve this problem. Now, he's concerned about their tone-deaf
attitude to the fears of governments, and to declining usage in some countries.

David Fingold
VP and Portfolio Manager, Dynamic Funds
Price
$172.500
Owned
No
DON'T BUY
DON'T BUY
August 20, 2018

Doesn't like or understand the balance sheet, and is wary of companies where activists are involved. He won't touch this. Doesn't see when they will de-lever.

Doesn't like or understand the balance sheet, and is wary of companies where activists are involved. He won't touch this. Doesn't see when they will de-lever.

David Fingold
VP and Portfolio Manager, Dynamic Funds
Price
$21.750
Owned
No
DON'T BUY
DON'T BUY
August 20, 2018

Historically, the banks have been an underperforming industry. He owns zero banks. BAC is one of the better large cap banks, but they are very sensitive to interest rates. An investor is really guessing what the front-end of the interest rate curve will be.

Bank of America (BAC-N)
August 20, 2018

Historically, the banks have been an underperforming industry. He owns zero banks. BAC is one of the better large cap banks, but they are very sensitive to interest rates. An investor is really guessing what the front-end of the interest rate curve will be.

David Fingold
VP and Portfolio Manager, Dynamic Funds
Price
$30.870
Owned
No