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Unibail-Rodamco-Westfield – A steel at 0.3x property value?

Who does not dream of owning at least part of a city’s most valuable properties? And what about several prime locations? Unibail-Rodamco-Westfield is Europe’s biggest owner of mainly shopping malls, but also offices, in many metropolitan areas with high foot traffic. The stock is currently valued at a third of its “net reinstatement value”, i.e. its replacement or asset value as an investor would call it. 33% is less than Buffett’s famous “dollar for 50 cents” – is URW a buy?

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A silver lining for Argentina? A look at YPF + new research report

Argentina is mainly known as a nation being in perpetual crisis mode. Besides beef, wine and tango, among the first thoughts that likely come to one’s mind are debt, economic hardship and hyperinflation. Needless to say that in such an environment you won’t find a booming economy. However, many Argentine stocks or those with a vast exposure to this market, have been rising over the last months. Is a (massive) turnaround in sight?

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Is it worth it to buy small stock positions?

This question is likely one of those where you will receive many different answers, depending on who you ask. Advocates of big positions are likely to tell you that without decent individual positions in a concentrated portfolio, you won’t achieve any meaningful returns. Practitioners of many small positions, on the contrary, will warn you about the risks of putting all your eggs in one basket. So, who’s right, what is definitely wrong, and what to apply?

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The dice are cast – 3M will have to cut its dividend

My long-time readers know that I have pointed my shotgun at candidates with likely coming dividend cuts. I even made two Weeklies out of this topic, as I am still convinced that dividend cuts will be one of the mega trends of this decade, and a fairly underestimated one! There are several companies where I am seeing massive operating and financial issues. In this latest episode, I am targeting again the famous industrial conglomerate and inventor of post-it stickers, 3M.

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Dividends in kind – are they worth it? + new research report

In some European countries like Germany, France and Switzerland, there are companies that not only pay cash dividends to their shareholders, but also dividends in kind. What is typically understood as a stock dividend outside of Europe, here indeed can be the distribution of a real physical gift or cost advantage (discount) from a company to its shareholders – in addition to, not instead of a cash dividend. Which companies pay such gifts and what can an investor expect? And: is it worth it, do shareholders have any meaningful advantages?

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Turnaround-bet: Is Vodafone’s 10% dividend yield a no-brainer?

The British red telecom giant announced not only a CEO-change, but also a strategic shift (both often come as one). Meanwhile, the share price is advancing its year-long decline, reaching even a fresh quarter-century low (!), as investors seem totally unimpressed. In the past, Vodafone has been a reliable dividend payer, although the payout was cut in 2019 and not raised again since then. The 10.7% yield seems tempting. Can it get worse or is it worth a shot?

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Deep Dive into Offshore Energy Drilling – coming back from the near-dead + new research report

Not only being one of the most cyclical, but also most hated energy sub-sectors, offshore drilling has been a secure investment grave for the last nearly 15 years. There is barely any investment topic where you could have sunk money more reliably. However, there are really interesting developments that make it worthwhile to risk a look into it, again. Especially, as along as it is perceived a no-go area for ESG-promoters – although offshore drilling tends to be the best choice in this regard.

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Could Apple’s Vision Pro be a better investment than Apple’s stock?

Last week, on its yearly Worldwide Developer Conference, Apple finally presented an entirely new device – the Apple Vision Pro. It was the first new product presentation since 2016, when Apple introduced the wireless AirPods. Others say since 2015 (Apple Watch), as the AirPods are “only an accessory” and unusable solely on their own. No matter since when, the question to answer is: Will the Apple Vision Pro propel Apple’s stock into new dimensions? Or is there maybe even an unconventional way to benefit from this new product as an investor?

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Earnings quality the worst in three decades – look at free cash flow!

Operating or net income, adjusted operating or net income, earnings per share (EPS), adjusted EPS and the price to earnings (PE) ratio are commonly used to assess a company’s business results and to value it. They are also often used as headline numbers and proof of performance by the companies themselves. However, there is a rising trend of decreasing “earnings quality” – an indicator that neither the economy is doing pretty well, nor many companies.

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Will MP Materials solve the Western dependency on rare earths from China?

When talking about rare earths, most people likely think of China and its dominant position in this commodity sub-sector. Sometimes you will also hear about a “monopolistic position” of China. As we know, rare earths are critical for our modern lifestyles due to being key ingredients which are needed for high-tech electronics as well as for everything that is being moved physically with high efficiency by electricity. MP Materials is in the midsts of establishing a fully vertically integrated facility in the US. Is this the key to achieve independency from China?

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