Sitemap - 2023 - Librarian Capital's Research Library
Charter: Mid-Single-Digit Underlying Growth; Likely Reacceleration in 2024
Librarian Capital's Monthly Ranked Top Buys - December 2023
Librarian Capital's Monthly Ranked Top Buys - November 2023 (Extracts Only)
Intuit: Solid Q1 FY24, But Valuation Getting Stretched
Rémy Cointreau: New Multi-Year Low with Weak Near-Term Outlook
Imperial Brands: Rising Risk of Disappointment After FY23
Diageo: Profit Warning, Mid-Term Outlook Cut, Return to 2018 Levels; Time To Buy
Rightmove: Reassessing after CoStar Entry & Lindsell Train Speculation
Mastercard: Consistent Double-Digit Growth, Still Reasonably Priced
PayPal: Stable Q3, New CEO Has Started Fixing Things
Estée Lauder: Recovery Again Postponed; Stock Back to 2017 Levels, Unfairly
NatWest: 0.7x TNAV, 8.7% Dividend Yield after Q3 Results
Altria: When the Theatre Manager Shouts “Fire” (Q3 Results)
RTX: “Powdered Metal” De-Risked Further & New $10bn Buyback
Alphabet: Core Ad Revenue Growth Back to Normal in Q3
Philip Morris: Positive Q3; Putting That 1.5% FCF/Share CAGR in Context
Bank of America: Stable Q3, 8.5x P/E Even with Basel III Endgame
British American Tobacco: New FDA Ban on Vuse Alto Menthol Variants Means Little
Philip Morris: Even More Bullish After Investor Day
Librarian Capital's Monthly Ranked Top Buys - October 2023
Croda: Back to May 2020 Levels on 24x Trough Earnings
Kone: Upgrade to Buy on Better Earnings & Lower Share Price
Otis: Down 10% Since July; China & Macro Fears Overstated
Rémy Cointreau: Top Spirits Franchise, Back to July 2020 Levels
RTX: One-Off “Powdered Metal” $3bn Hit Wipes $14bn Off Market Value
Direct Line: Still in “Too Hard” Bucket After H1, Despite <10x P/E
Librarian Capital's Monthly Ranked Top Buys - September 2023
Charter: FAQ on Disney “Blackout”; “Not a Classic Carriage Dispute”
Pernod Ricard: Near 52-Week Low After FY23 Results
Diageo: Shares Fell Again After FY23 Results, Cheap at 20x P/E
Intuit: Double-Digit Growth Again in Q4 FY23, But 36x P/E
PayPal: Investors Gave Up Again After Q2 Results; You Shouldn't
Admiral: Only Way is Up After H1 Results
Estée Lauder: Near COVID-19 Low After Q4 FY23 Results
Rightmove: Return to 10%+ EPS Growth in Sight After H1
Altria: Which Matters Most? H1's 10% Volume Decline, 5% EPS Growth or 9x P/E?
British American Tobacco: Stable H1 Headlines, Some Worrying Signs But 7x P/E
Charter: Continuing to Turn the Corner in Q2; Reiterate Buy
Microsoft: Strong FY23 Finish, But Down 6% Since Results
RTX: FAQs on “Powdered Metal” Issue After Shares Crashed 10%
Philip Morris: Q2 Strong on Nearly All Fronts, Still 5%+ Dividend Yield
Bank of America: Stability Shown in Q2, P/E Still Less Than 10x
JPMorgan: Q2 2023 Over-Earned, But Stock is Still Attractive
Librarian Capital's Monthly Ranked Top Buys - July 2023 (Corrected)
Visa: Up 15% Year-To-Date, With More Upside to Come
Diageo: P/E at 20x Again Ahead of FY23 Results
Sabre Insurance: Shares Halved Since COVID, But Not Cheap Enough
Fund Manager Comments: Is Another Correction Coming & What to Do About It
Croda: Cheapest Since 2020 as Sales Hit Post-COVID Cyclical Lows
Admiral: 6% Fall After Citi Downgrade is Another Opportunity
Librarian Capital's Monthly Ranked Top Buys - June 2023
Intuit: Down 7.5% After Q3 FY23 Results, Despite Raised Guidance
Mastercard: Still Attractive Despite Recent 52-Week High
Home Depot: Compounder Now Pricing In Mild Recession; Initiate at Buy
Imperial Brands: Structural Headwinds Back in H1 FY23
Fund Manager Comments: Search, Research & Artificial Intelligence
Rémy Cointreau: 26% Down Since Start of 2022 on U.S. Cyclical Fears
PayPal: Q1 Worse Than Headlines, But 16% Crash Was Unfair
Lloyds: Evident Stability in Q1 Results, 8.4x Normalized P/E & 5%+ Dividend Yield
Estée Lauder: Shares Fell 17% as Q3 FY23 Revealed Past Mistakes
Charter: Solid Progress in Q1 After Shares Collapsed in 2022
Microsoft: Shares Over $300 Again After Q3 FY23 Results, Now What?
Altria: Cigarette Volume Fell 11% in Q1, But Dividend Yield Now 8%
NatWest: Below Tangible Net Asset Value Again After Q1 Results
Otis: Strong Maintenance Growth Drove Solid Q1 & Likely Mid-Teens IRR
Alphabet: Amid Weak Macro, Resilient Q1 & Growing Self-Help
Raytheon: Mixed Q1 Results from a Long-Term Compounder
American Express: Staying Away from This Buffett Stock After Q1 Results
Philip Morris: Q1 Weak as Guided, Stronger Growth & Margins in Rest of 2023
Bank of America: Q1 Results Dispel Fears on Deposits & Bond Portfolio
Fund Manager Comments: Banks, Banks, and More Banks
JPMorgan: Strong Q1 Results, Raised FY23 Outlook, Still 10.6x P/E
Tesco: Revisiting this Classic Value Stock after FY23 Results
Tobacco Stocks: The New "Cigar Butts"?
Librarian Capital's Monthly Ranked Top Buys - April 2023
5 Questions To Determine This Substack's Future (Poll)
American Express: Down 11% In A Month, Maybe Unfairly
Hershey: Good Category, Resilient Growth, But Too Expensive
KONE: No Longer a Buy as Recovery is Again Postponed
Intuit: Strong Business Benefiting From Lower Interest Rate Outlook
Altria: Multiple Disappointments from Investor Day
Brown-Forman: Near 52-Week Low, But Not Cheap Enough
Librarian Capital's Monthly Ranked Top Buys - March 2023
L'Oréal: Further Upside After Strong 2022
Direct Line: Too Much Uncertainty, Even For 5x 2019 EPS
Bank of America: Ignore the $114 Billion "Unrealized Losses"
Fund Manager Comments: Fundsmith 2023 AGM Notes
Admiral: Shares At 16x 2022 EPS, Likely The Trough This Cycle
Rightmove: 10%+ EPS Growth, But Only After 2023
Altice USA: Why It Will Not Be Acquired By Comcast
Comcast: Still Cheap After Good Cable Growth In Q4 Results
Estée Lauder: Down 11% In A Month Since Q2 FY23 Results
Fund Manager Comments on Inflation, Public vs. Private Investing, Small Caps & Diageo
Altria: Buying NJOY Would Likely Bring No Joy
Ansys: Solid Q4, But Not Worth 11% Rise To 37x Non-GAAP EPS
Altice USA: Declines Slowed In Q4, New CEO Making Changes
Lloyds: Good 2022 Results, Raised Mid-Term Outlook, But 7x P/E
Librarian Capital's Monthly Ranked Top Buys - February 2023
PayPal: Back To Multi-Year Lows After Q4 2022 Results
NatWest: Down After FY22 Results, <10x P/E & 5% Dividend Yield
Pernod Ricard: Strong H1 FY23 Results, Still 21x P/E
Imperial Brands: Troubling Read-Across From Peers' Q4 Results
Zoetis: Back On Track In Q4, Regaining Premium Valuation
Pernod Ricard: Attractive At 23x P/E Before Likely Strong H1 FY23 Results
Philip Morris: Solid Q4, Multiple Growth Drivers For 2023 Onwards
British American Tobacco: Combustible Volumes Fell Double-Digits in U.S. & Europe
Charter: Positive Trends In Q4, But Patience Needed
Otis: Solid Q4, More High-Single-Digit EPS Growth Guided In 2023
Alphabet: Mixed Q4 Results Represent Start of Changes
Meta Platforms: What A Difference Q4 Made; Now 20x P/E
Altria: Earnings Growth Despite Bad 2022 Macro, But Little Other Good News
Diageo: Fears Of U.S. Slowdown After H1 Creating A Bargain
Raytheon: Travel Recovery Offsets Q4 Bad News In Defense & Tax
Visa: Strong Q1 FY23, Still Less Than 30x P/E
Mastercard: Double-Digit Growth In Q4 & Likely Beyond
Microsoft: Looking Past Share Volatility After Q2 FY23 Results
Fund Manager Comments on 2022 Mistakes, Meta Platforms & Unilever (Correction)
Lloyds: Still 10x P/E & 4%+ Dividend Yield After Recent Rally
Bank of America: Q4 Worse Than JPMorgan's But Stock Is Cheaper
JPMorgan: Steady Q4 & Well-Prepared For 2023
Admiral: Investors Over-Reacting To Direct Line Profit Warning
Hargreaves Lansdown: Changes Coming, But Not Clearly Enough
Librarian Capital's Monthly Ranked Top Buys - January 2023 (Part III)
Librarian Capital's Monthly Ranked Top Buys - January 2023 (Part II)
Librarian Capital's Monthly Ranked Top Buys - January 2023 (Part I)