Carrefour, Bompard and the Reputation of Management vs Business

Alexandre Bompard, the young and alert new CEO of troubled French retailer Carrefour, will soon have a chance to show if he can thwart this priceless but nonetheless true observation from Warren Buffett:

« When a management team with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact. » Continuer la lecture de « Carrefour, Bompard and the Reputation of Management vs Business »

Are We on The Verge of Final Melt-Up Before the Next Krach ? Jeremy Grantham Thinks So

According to Investopedia a « melt-up » is a « A dramatic and unexpected improvement in the investment performance of an asset class driven partly by a stampede of investors who don’t want to miss out on its rise rather than by fundamental improvements in the economy. »

This is exactly what could happen to financial markets, according to veteran value investor Jeremy Grantham. Continuer la lecture de « Are We on The Verge of Final Melt-Up Before the Next Krach ? Jeremy Grantham Thinks So »

Unibail Rodamco-Westfield: 2 Views from the same Broker

Unibail Rodamco (UL) announced a friendly takeover offer for Australia-based Westfield (WFD) in a deal that values the Australian mall operator at c$25 bn (on EV basis).

Interestingly, Bank of America Merrill Lynch has analysts covering both companies. Following the transaction, the team covering UL has maintained its Buy rating while the one covering Westfield has moved to « Not Rated », arguing that « WFD is no longer trading on the basis of fundamentals. » Continuer la lecture de « Unibail Rodamco-Westfield: 2 Views from the same Broker »