For 2018, I am considering the following baseline scenario for Adidas: Sales growth around 7% per year; Profit margin near 5%; Multiples between 25x and 20x earnings. You can read my full thesis and valuation on the stock here But the main reason why I am writing is the following: For the first time I… Read More Spreadsheets for my Valuation on Adidas
Allegedly, Elon Musk approached Google (GOOG) in order to sell Tesla (TSLA) back in 2013. At the time, Tesla was having a hard time in materializing sales due to several problems in the car (Source: Bloomberg). The thing here is the fact that Tesla was in a situation so frail, back in 2013, that according… Read More Tesla was almost sold to Google: Shouldn’t this be a warning about Tesla valuation?
A couple of weeks ago, I’ve wrote an article for TalkMarkets where I defended the idea that Nokia (NOK) could be pursuing a return to the smartphone arena. At the time I argued that Nokia should return to the smartphone industry through a large or a small acquisition. Now, we have Re/Code citing sources stating… Read More Nokia is staging a comeback to the Smartphone arena: The rumors are getting stronger
I haven’t had much time to update the blog or to write about stocks since I have been travelling through Spain during the last weeks. However, the last 2 weeks were rich on market developments. One good example is the Nokia’s acquisition of Alcatel Lucent. I have been trying to understand the deal and I… Read More Getting up to date on 2 weeks out of the market
Warren Buffett (BRK-A) has started to buy in Europe, more specifically in Germany. He stated that Germany is a great country, with a vigorous and productive economy. Therefore, we shouldn’t be surprised that he bought a German supplier of motorcycle equipment and he may be up for more (Source: Fortune). I have mixed feelings in… Read More Warren Buffett Sees Potential In Germany, I See A Moat In Adidas