⁠Quality Stocks
🇺🇸 Manhattan Associates $MANH one pager

🏆 Score 6.4/10 - losing points on valuation
🎯 My fair price estimation is around $190

🐂 Bull case
- Strong growth
- Strong ROE / ROIC
- Share buybacks
- Leader in an appealing market (logistics digitalization - WMS / TMS)

🐻 Bear case
- SBC - but almost reasonable compared to other tech companies in the US
- Valuation, but quality comes at a price
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⁠Librarian Capital
Your regular reminder the "IA" in "IA Global" stands for Investment Association, so it is just the average return of UK global funds and underperforms the index

As of Jun-24 month end:

"IA Global" gained 52.9% L5Y
MSCI World gained ~80% L5Y (12.48% p.a., £) https://t.co/rAgZuH3NHZ
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⁠Stock Analysis Compilation
Artemis Funds on SSP $SSPG LN

Thesis: SSP’s strategic growth investments and potential for high returns, coupled with undervaluation, create an attractive risk-reward opportunity

(Extract from their Q2 letter) https://t.co/gTtLKcS9mj
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⁠Invest In Assets 📈
Howard Mark's two rules on market cycles:

1: Most companies are cyclical
2: The best investment opportunities arise when other investors forget the first rule
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⁠Quality Stocks
Slowing economy 📉
Less demand for oil ⛽️

The market share evolution with USA will be interesting to follow. The current trend is in favor of the US oil. This decision shouldn't change that

OPEC+ is discussing a possible delay to an oil output increase planned for October after prices crashed to the lowest since last year https://t.co/kHaqFWIl6a - Bloomberg Markets
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⁠Hidden Value Gems
A good article in WSJ by James Mackintosh: 'How to Lose Money on a Popular Theme'

Three AI ETFs are down this year despite $NVDA soaring 120% this year.

"The AI fund disaster should be a cautionary tale for buyers of thematic ETFs, which now cover virtually anything you can think of, including Californian carbon permits (down 15% this year), Chinese cloud computing (down 21%) and pet care (up 10%). Put simply: You probably won’t get what you want, you’ll likely buy at the wrong time and it will be hard to hold for the long term."

via @WSJ

Quote of the day #78

#investing #AI #Stocks https://t.co/zOLm3eUG3u - Hidden Value Gems
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⁠Quality Stocks
An ad for Intel $INTC

I am sure $INTC shareholders would appreciate it more if it reflected in the earnings report https://t.co/7YpWWNSv1k
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⁠Bourbon Capital
RT @BourbonCap: If semiconductors crash this month, buy quality stocks like $ASML or $TSM. At the very least, we will need these companies for the next 20 years.
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⁠Quality Stocks
🇺🇸 Dick's Sporting Goods $DKS Q2 25 results

Revenue $3,474M
Q2 24 $3,224M +7.8% 🟢
Est. $3,434M beat 🟢

EPS $4.37
Q2 24 $2.82 +54.9% 🟢
Est. $3.84 beat 🟢

FY Outlook
EPS $13.55 to $13.9 (est. $13.7)
Net sales $13.1 to $13.2B (est. $13.2B) https://t.co/IHNnIrQ28V
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