ukvalueinvestment

Try Tikr.com

I totally agree. Facebook seem to have managed the last 3 months well in terms of being the lightning rod for criticism. And at some point the events of 2016 will fade from the memory...

I don't think many would argue that Giuliani did some fine things as mayor. But that doesn't mean you can't also judge his actions over the last ten years in a negative way. People change. Rudy has not aged well.

It's a blue chip global company so you would expect high pay. Is 6 million bad, but 4 million good? Not sure about that? I think the question with Bayer is about governance generally, whether it can generate value or whether it is too big and not run for the shareholder. Do we trust management to allocate our capital prudently for next ten years?

I think the point has been made and this thread should come to a natural end.

I see what you mean but you also have to treat politicians in the same way as the rest of the population. If it was "allowed", and they acted in a responsible way (masks etc), there are better targets for criticism in my view.

I agree - he does an awful lot of name and photo dropping to get that halo effect. He should make more of his lacklustre returns.

Is that statement about Americans being more used to buying online a general statement? If so, I'm not sure if that's true. I believe Uk is one of the most highly penetrated online markets in the world and - believe me - delivery wine clubs have existed for very many years.

But they were following the rules at the time weren't they?

the other thing to mention is that growth in the Uk seems to have slowed somewhat so what is so great about the US market? I have heard that there is a particularly quirky regulatory regime around alcohol and Naked Wines has managed to get itself designated as a "producer" (rather than eg retailer) which enables a pricing advantage. So key to the supply side and case I think is how replicable and scalable that status is.

First, I have tried them out and am not that impressed. Wine wasn't great, albeit heavily discounted. And the website is very simplistic, although it could work for some I guess. My main problem is on the moat. Company has the vibe of helping the small artisan - it calls its customers "angels". But how does this work as the company gets bigger and bigger? At some point it will run out of these small artisans or someone else can copy the model. For me to consider investing I would need to see as much financial metric disclosure on the supplier side as the buyer side to understand how much depth there is to that supplier base.

Do you know why killing someone who is attacking you is more justified than killing an innocent person? Do you know why its more dangerous to drive over the speed limit without wearing a seatbelt than with one? I do, but I dont see the ties any of that has to the logical inconsistency in the above mentioned behaviors. For instance just yesterday, Chuck Schumer was partying in the streets maskless. And it was celebrated by everyone and the part where he was massless largely ignored... People have just kind of lost it with this and the media is a big part of the problem. Even the other day, my wife says to me, "did you notice the kids had runny noses all week?" and I was like yea. And she says "now my nose is runny, do you think we should be concerned?", I said, well how do you feel? To which she replies "fine". And I explain to her politely but in my head am thinking...."WTF. Every year maybe 2-3 times a fall/winter(at least since having kids) stuff like this goes around. Seasonal allergies/common cold/flu, etc....normal part of life. Now, the exact same things happen and we're all ridden with paranoia. On top of this, if these are your symptoms, and it turns out to be covid...who cares? You feel fine or at least consistent with how you normally do during this stretch of the seasons, you might have minor discomfort....otherwise, WTF is the point of all this negative energy, restriction, and paranoia....and if anything more serious comes about, well you deal with it accordingly. But the degree to which people are mentally impairing themselves over this is downright insane. Errrr.... remind me who it is that's mentally impairing themself?

Yep, but that is not gonna happen I'm afraid. They seem completely clueless. It's quiet incredible to think what some basic financial engineering would do here. They borrow at a couple of pct points, it is a no brainer, but they have no brains it seems. Perhaps when lockup of ABI shares lapse next year. Hard to borrow when you are already indebted and your business (as measured by volumes) is deteriorating.

Thanks but shouldn't churn be calculated on the previous year's sales not the 1st year's sales?

MO has distribution rights to IQOS in the US, but it is actually a PMI product. Apols - I used the wrong ticker - confused easily. Meant Philip Morris.