Stock Market Consulting – April 2018 (Value Investing FM)

Stock market office in which Adrián Godás and Paco Lodeiro answer the questions of the listeners in April 2018. On this occasion, we deal with topics such as ways of invest in raw materials, ratios and metrics used for the valuation of companies, Spanish and foreign brokers, dividend investment y competitive advantages.

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Stock Market Consulting - April 2018

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Questions from the Stock Exchange Consultation of April 2018

About how many companies we analyze per month

¿Cuántas empresas analizáis al mes de media?

(Martín)

About rare raw materials

What is the rarest raw material you have ever seen?

¿Cuál es la que behaves de forma mas rara?

(Martín)

About Franco Nevada and Sandstorm

Two questions about one of the ideas that I liked the most, those of investing in gold indirectly through Franco Nevada and “Samston?”. On the one hand, Franco Nevada's PER, 67,08, isn't it excessive? And I can't find “Samston”, what is his ticker, please.

(JA Alonso)

Three questions about investing in commodities

On the subject of uranium, what do you think about investing in uranium via ETF, instead of choosing individual stocks, do you think it could be a good decision?

(Fernando Palacios)

Hi, I'm Enrique from Alicante, you are some stars! 🙂 Waiting for your raw materials podcast! My question is how to buy the material in question: stocks, ETFs, investment funds? … For example with gold there is the option of bullion, but what if I want to buy an amount less than one bullion? Well that! Keep going 🙂

(Enrique from Alicante)

One question, what differences are there between investing directly in ETFs of raw materials (for example oil and uranium), to investing directly in companies? A priori, investing in ETFs diversifies the risk, since you invest in many companies, not just one… .. But in terms of returns, would there be much difference if these sectors finally stand out? It would be interesting to have a historical perspective ...

(Netcaesar)

About graphene

What do you think of graphene? Do you think it is a good time to invest?

(Javier)

Five questions about business analysis and valuation

First of all, congratulations on your podcast and also on your academy. I have been interested in Value for quite some time. I have read many books and I love valuing companies. I have not had the courage to invest yet, although I will soon. I am doing your basic online course and surely I will soon encourage the payment or do a value master.

  • Which of the company valuation methods do you give the most importance to? FCF, Ratios, others?
  • Why aren't utilities usually interested in Value? (Greenblatt)
  • How is the Enterprise Value interpreted? (The net financial debt and cash generates some doubt if it is interpreted in terms of value or cost)
  • How should the "cash flow statement" be read correctly (CF-Operations, CF-Investments, CF-Financing and FCF)
  • How important is ROIC to WACC?

(Mario González)

About Self Bank broker

As for the issue of the best brokers, what do you think of Self Bank? They have a "non-custodial" account in which they do not charge custody fees. I understand that what you save on the one hand they take it out on the other and I imagine that the commissions for buying or selling shares will be higher than other brokers, however for a long-term investor I do not see it unreasonable. Perhaps the worst thing about this broker is that it does not have access to some markets or some funds (Vanguard). Thank you.

(Manuel Fernández)

On what to spend time on

Where can I invest my time? Or some effective investment. Thanks and success to you

(Anonymous from iVoox)

About foreign brokers and the 720 model

A doubt Paco, I have read that in foreign brokers such as De Giro or Interactive Brokers you have to make a form called 720 to declare money abroad from 50.000 euros. I have seen that the fines for not doing it or that it contains errors are very high, I personally am very afraid and I prefer Spanish brokers despite the commissions. What's your opinion about it?

(Mariotelli from YouTube)

On shares listed in different markets

For my part I have a question, sorry if it has already been answered previously. Why can the same share be listed on different exchanges, even within the same country? Would there be any difference between buying the stock in one or the other beyond the specific commissions depending on the geography and the broker? That is, the value of the specific share should be the same regardless of the exchange rates?

(Gabriel)

On investment in dividends and competitive advantages

Hi both of you, I'd like to ask you both a question for the April office. It's simple: Which three companies with great competitive advantages would each choose for a strategy of investing in increasing dividends? Congratulations on the program and a big hug.

(Zydrunas from iVoox)