All ideas

Sprint is a company that many High Yield investors have a love-hate relationship with. My investment thesis is based on the value of the spectrum it owns, which is substantial enough to cover the bond

I like Nielsen for its underlying cash flow generation, but there are questions about the sustainability of its business model. It has a clear pathway to paying down debt, which makes it a viable inve

Tenet is a 4.25% position in the investor's portfolio, with a focus on secured hospital bonds, which are considered very safe unless fraud occurs. The investor appreciates the spread pick-up from hold

HCA is a significant position in the investor's portfolio, with both secured and unsecured paper held. The investor believes that despite trading like Investment Grade, there is still value in holding

The investor held onto Constellation Brands after it was upgraded to Investment Grade because it was maturing later in the year, indicating confidence in its credit quality and future performance.

Despite being downgraded and facing challenges from internet business models, Pitney Bowes generates significant free cash flow and is investing in new business lines. However, the investor exited the

Kweichow Moutai is viewed as a high-margin company with a strong brand in the luxury liquor market. The investor highlights its significant market cap and pricing power, suggesting it is a solid inves

The investor has maintained their position in Fiat Chrysler, believing in the company's strong management and execution of its business plan post the passing of its former CEO, Sergio Marchionne. The

The investor believes that investing in the South Korean market, potentially through the KOSPI index, could yield good returns as the market cap is relatively low compared to major US companies. The i

MasterCard is considered a compounder, but the investor is uncertain about its current valuation multiple. Despite this, it remains a strong candidate for long-term investment due to its business mode

GrafTech is seen as a potential compounder that could be undervalued, making it an attractive investment for someone who is cautious about price. The investor believes that with the right conditions,

IPSCO was an attractive investment due to its strong cash position and predictable cash flows, with $15 per share in cash and locked-in earnings for the next two years. The stock was trading at $45, e

GrafTech is uniquely positioned in the ultra-high-performance electrode market due to its backward integration with needle coke production, which is critical for electrode manufacturing. The company h

GrafTech makes ultra-high-performance electrodes used in electric arc furnaces for steel production. The odds of losing money are muted, and there is potential for significant upside, possibly doublin

ARMK is considered a compelling long investment with a projected 23% internal rate of return over three years and a favorable 4-to-1 upside/downside risk profile.

Microsoft has a dominant position in the operating system market and has successfully transitioned to the cloud. The company's cloud services are deeply integrated into its software, making it difficu

Constellation Software remains a strong investment due to its excellent capital allocation and ability to turn around underperforming businesses. However, there are concerns about the legacy portfolio

The investment in Google is viewed as a long-term hold despite current headwinds in the advertising market. The company has strong fundamentals, including ownership of the Android platform and a robus

Wolters Kluwer holds strong market share positions in tax and accounting, as well as in health, with a revenue growth rate that has improved recently. Despite trading at 23x earnings and having a mode

Intertek is well-positioned to benefit from the rising concern for environmental sustainability, as it is developing a sustainability assurance service. The company has a strong market position in tes

Canadian Natural Resources is facing significant liabilities related to its tailing ponds, which could range from CA$2 billion to CA$9 billion or more. This presents a more negative skew in its valuat

US Foods is positioned for significant gross margin expansion driven by independents and private label growth. The company has a clear path to reduce operational expenses and improve EBITDA margins, w

USFD is positioned to benefit from its scale in the fragmented food distribution industry, which has high barriers to entry. The company has shown strong earnings growth and has the potential to narro

We recommend a long position in US Foods, which operates in a recession-resistant industry and has strong competitive advantages. The stock has recently declined over 30% due to operational challenges