Expedia is an online travel company that includes Orbitz, Travelocity, Vrbo, Hotels.com and Classic Vacations as well as Expedia.com. Results, as expected, where severely impacted by the pandemic and have been steadily recovering which can accelerate into the US, European summer holiday season and by year end 2022 normalize to pre Covid19 levels. The company …
Neste reported very good 1Q22 results with EBITDA up 35% on a higher bio diesel margin and a increase in oil refining. However, the market sold down the stock despite beating consensus. The only item that could have caused concern was company guidance of a “lower” Biodiesel margin in 2Q22. However, the 1Q22 guidance was …
Santander is one of the cheapest bank stocks in the world! The Bank is well diversified with operations in EU, UK, Latam and US, has a 16% capital adequacy level, a significant fintech platform (17% of earnings), efficiently run, an ROE of 12% and earnings growth of 10% plus a 6% dividend/share buy back yield …
Is the Chilean market cheap on the political scenario i.e., the leftist government and great uncertainty surrounding the not yet finished new constitution or is there something else impacting valuations? At present the IPSA (30 most traded shares) is down 20% in the last 12 months and trading at 8.5x forward PE (consensus estimates) which …
In a scenario of higher rates, inflation and a slower growing world, consumer staples, products that have low elasticity of demand; that people will continue to need, should provide investment safety if not gains. This sector has pricing power, brand recognition, supplier scale and distribution. I have a sizable position in British American Tobacco (BTI), …
Japan as Ben Laidler (https://www.etoro.com/news-and-analysis/in-depth-analysis/macro-insights-japan-as-a-europe-alternative/#.YlZw-s8is9E.linkedin) wrote today, is a lower risk, lower valuation market vs US and Europe. I looked at a few large banks and found the risk reward appealing. At some point the BOJ may hike rates or stop the bond yield intervention. If that happens the YEN falls (gains value vs the …
The Futurus portfolio was down 17% in 1Q22, underperforming the Nasdaq considerably (-10%). This is primarily explained by a sharp drop in oil, wheat, and other commodities at the start of the Ukraine invasion. I believed and still do, that commodities will continue to rise driven by sanctions on Russia, the invasion as well as …
The Escudo portfolio has held up well in 1Q22 down 2% vs SP500 down 6%. The invasion of Ukraine and far more aggressive rate/inflation drivers required a significant overhaul vs the start of the year. I added a large position in Berkshire on value, exited all travel recovery plays and most banks and insurance company …
Wizz airlines is a low-cost carrier operating in Central and Eastern Europe (CEE) with a 21% share. As with most airlines it has been severely impacted by covid19 and now rising oil prices and the invasion of Ukraine, that represents 8% of revenue. However, its share price is down near doble that of peers Ryan …
When will it be “safe” to buy US stocks? As you may know the Fed is set to accelerate its rate hiking scenario, stopped buying US treasuries and mortgage-backed bonds (called QE or quantitative easing) and should start QT i.e. selling bonds and taking cash out of the market. At the same time inflation continues …
