Portfolio for 40 million Rusagro and Intel — good companies «in Ignore» from investors?

24 сентября, 2021 от fake Выкл

«A good person to whom does he need is asked?»

(c) Sergey Dovlatov

You probably read the wonderful book of Benjamin Graham «Reasonable Investor»? Most likely — read. The thrust of people to knowledge is great, and this book is just an alphabet for a novice investor and a desktop book for experienced.

You probably, and the book of Janet Low «Warren Buffett says» caught? A good book, useful for any person who came to the world of investments — who to listen to how not the «sage Omaha», if he did «speak»))

And Bodo Schefer «Path to Financial Freamence» read? No? Well, do not read.

And the previous two, if not read — not even open. Because the market seems to be no longer managed by any reasonable considerations. What is there «reasonable investor» what are you talking about? I beg you … Look at the shares of Intel. (I am with my Rusagro my beloved all already soldered, so I will start in this article with an unexpected example on my channel).

So.

I’m asking Intel

Go.

From the point of view of fundamental analysis, Intel almost definitely exceeds the AMD. Just looking at the P / E 120 at the AMD Graham from surprise the tie would have swallowed. Meanwhile, Intel is quite pleasing (for the current American market P / E 12).

Intel continuously and quite significantly

Revenue

Gross profit

Operating profit

EBITDA

free cash flow

So what? And nothing … and no one does not care from shareholders. Think — the same «just» objective numbers. «Total» real real money that the company earns for its shareholders in the market.

Therefore, the company is with such actually excellent and stable market indicators worth 12 of their annual profits. AMD costs 120 of their profits. And no one worries that «profit» of AMD is 12 times less than in Intel, and that «profits» appeared that very recently — only in 2016 AMD was carried out operational losses.

And what is important for investors? O! it’s very funny. Let’s see. On what «rational» grounds are made decisions?

A simple example — not only the processor works — software developments are important. So — the AMD processors work significantly faster on the softe of Intel — this was noted by mathematicians on the MATLAB service. So we see — there is no lag of Intel — there is simply normal competition of two technological companies in which each has its advantages. But the AMD’s pierchiki clearly won.

Here you can spend a parallel with the Tesla and the manufacturers of the «normal» car — Tesla cost more (at times) than Toyota, although Toyota produces more cars and generates more profits. But the world is crazy, and shareholders buy dreams, not cash flows. Simply, it seems to me, do not even think about the shares in such terms and concepts.

And if you think that in the comments you can tell about the recent sharp increase in Intel, as something disproving all the above — then it is not even better to start it better)) there we must once again grow to grow, so that at least some of the multiplers have become with AMD comparable — And this is despite the fact that for such a giant business, nevertheless, the investor must give sound discounts — elephant is difficult to be prompt.

And now take a look at Rusagro

Itself

Exists on the market for a long time

Understands how to work

Occupies a significant share of the Russian market at once in several sectors —

Has the third in Russia

Understands the strategic need to develop agroexport —

The last five years increases production volumes annually

In the past five years, the company has carried a significant capital expenditure on the construction of new pig farms, expansion of land bank and the purchase of new sugar factories. It did not know any understanding among investors (I note — now such a story happens on the market with another my favorite company — Nizhnekamskneftekhim — they are also actively invested in the expansion of production and now no one bows their shares — well, why buy cheap stocks, it’s better to buy later When they are more expensive))

But, everything is bad, the end comes. Pork market in the country is saturated. The times of large «capeps» from Rusagro and other pig breeding, apparently — behind. I wonder, at least now investors will look more closely on the company? Or export duties and a decrease in dividends now scare? Wait and see.

Summing up — it seems to me that if we talk about investments in the shares seriously and for a long time, for years, then buying business, and not color presentations about business.

Acting in this paradigm makes sense to carefully read financial reports and less often watch interviews with bright media figures, like a mask)) Then you will multiply your capital slowly and right.

Well, or you can lay an apartment and buy bitcoins / Tesla to all — also the option — then you can get rich quickly. But it is not exactly )))

As for me — Intel I still afraid. I somehow get closer than something from the company’s land.