tag:blogger.com,1999:blog-4886595570005494885.post5145883506427593163..comments2009-01-19T14:53:22.782-05:00Nurseb911http://www.blogger.com/profile/04974722323117696369noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-4886595570005494885.post-70916332305454993972009-01-19T14:53:00.000-05:002009-01-19T14:53:00.000-05:00jberendsen,<BR/><BR/>Have you read my four part series, Taking Stock in IGM? In parts III &amp; IV I got into a very detailed description of how I select my numbers, my reasoning and a complete walkthrough of the process. Let me know where the process is breaking down for you and maybe I can use another company as an example in a future post demonstrating again my valuation model.Nurseb911http://www.nurseb911.com/noreply@blogger.comtag:blogger.com,1999:blog-4886595570005494885.post-63349508878952954782009-01-19T14:49:00.000-05:002009-01-19T14:49:00.000-05:00Hi Brad,<BR/>Thanks for your comment. I thought your analysis was excellent. I always learn a lot from them!<BR/>What I would like to learn more about in your KO analysis regarding the valuation method is a more detailed explanation of how you came to your fair valuation price and - more importantly - why you choose to use the variables that determine the specific outcome (e.g. growth rate, p/e etc.) In other words, what is the thought process behind it. Do you know what I mean? I am interested in learning more about this to help in my own learning process.jberendsennoreply@blogger.comtag:blogger.com,1999:blog-4886595570005494885.post-38820487579688504542009-01-19T07:59:00.000-05:002009-01-19T07:59:00.000-05:00jberendsen,<BR/><BR/>Thanks for the comment. Can you please be a little more specific on what in my evaluation method you would like explained further? Are you referring to my valuation method, situational analysis or another item that I've included in the full analysis?Nurseb911http://www.nurseb911.com/noreply@blogger.comtag:blogger.com,1999:blog-4886595570005494885.post-14829340864781306862009-01-19T03:16:00.000-05:002009-01-19T03:16:00.000-05:00Hi Brad, Great Analysis. You cover all the topics that I find important. <BR/>The only thing I would like to see more about is the evaluation method further explained.<BR/>I reqally like how you explain the relation between various numbers like margins, COGS, etc. and how you bring those together in your analysis. <BR/>Looking forward to more of them!jberendsennoreply@blogger.comtag:blogger.com,1999:blog-4886595570005494885.post-12118026339867959052009-01-17T15:10:00.000-05:002009-01-17T15:10:00.000-05:00As always, great analysis. Even though I don't invest in equities outside of Canada, I will look out in the future for your analysis of potentially amazing Canadian companies.T.http://www.blogger.com/profile/07038072152369209027noreply@blogger.comtag:blogger.com,1999:blog-4886595570005494885.post-27550131460550389622009-01-13T09:43:00.000-05:002009-01-13T09:43:00.000-05:00Hey Brad, great analysis. I used to think Pepsi's diversity was their asset but their recent re-focus along with your analysis has made me rethink that. <BR/>A lot of work seems to go into your taking stock series and it's much appreciated.Paul (augustabound)noreply@blogger.comtag:blogger.com,1999:blog-4886595570005494885.post-69418401226347588872009-01-13T05:55:00.000-05:002009-01-13T05:55:00.000-05:00Thanks to everyone for the kind words. The effort was well worth the outcome and I&#39;m very proud that readers have enjoyed both the public &amp; SAML versions.<BR/>Thanks for taking the time to post your thoughts and opinions on the analysis.Nurseb911http://www.nurseb911.com/noreply@blogger.comtag:blogger.com,1999:blog-4886595570005494885.post-37837034011444610792009-01-13T01:40:00.000-05:002009-01-13T01:40:00.000-05:00Brad - excellent analysis as per usual, thanks.<BR/><BR/>Interesting reading through the latest Buffett bio 'Snowball' and following his transition from a strictly Graham 'cigar butt' approach to the view toward buying excellent businesses as Charlie Munger grew on him. Competitive advantage is a major factor in analysis and you've summed this up wonderfully with KO.<BR/><BR/>MarkMarknoreply@blogger.comtag:blogger.com,1999:blog-4886595570005494885.post-18960635873275450292009-01-13T00:19:00.000-05:002009-01-13T00:19:00.000-05:00Got this in the Stock Analysis Mailing List on Jan.5 and have spent some time going over the numbers and have learned a lot. Fundamental analysis has always been a challenge (which numbers can you trust? which make the most sense to use?) and this analysis is very helpful. I always learn something from your postings, but your stock analysis is the best! Thank you.Susannoreply@blogger.comtag:blogger.com,1999:blog-4886595570005494885.post-54092320471367204462009-01-12T20:25:00.000-05:002009-01-12T20:25:00.000-05:00Wow! I bought the full version this morning after a coworker who is a subscriber told me about how good her copy of the analysis was. $20 is a steal in my opinion. The two decades of data was very well organized and how you brought that into your analysis was spectacular. You put everything in perspective so well about such simple things like margins and product development that I would have never thought of looking on my own. I've owned this stock for nearly a decade and was seriously thinking of selling it recently with how bad the markets were and other economies hurting bad. Now I’m glad I didn’t. What was even more compelling was the comparison to Pepsi and how focusing on what Coka does best has paid BIG dividends for all these years. I agree with the scott fellow. I’ve read numerous brokerage reports or watched analysts on tv talk about their buy or sell targets and estimates. No analyst has ever talked about the basics of a business like this. Not even close. Even if I wasn’t a owner of the stock I would benefit from your insights. Good job nurseb!Vladnoreply@blogger.comtag:blogger.com,1999:blog-4886595570005494885.post-56144671421402467842009-01-12T13:06:00.000-05:002009-01-12T13:06:00.000-05:00This is a fantastic analysis Brad. Not only is the fundamentals of the business analysed extremely well, but also how the fundamentals work together to create the awesome company that is Coca Cola.<BR/><BR/>I'm looking forward to your next analysis and as always find many useful things to learn from your writings.Jae Junhttp://www.oldschoolvalue.comnoreply@blogger.comtag:blogger.com,1999:blog-4886595570005494885.post-83115692865211760092009-01-12T10:51:00.000-05:002009-01-12T10:51:00.000-05:00I have to agree with scomac. It is obvious that a lot of time and effort went into this analysis - especially on the business side. The "Taking Stock" posts on this blog are the best I have found online. As someone who is just learning the whole fundamental analysis game, I find these posts extremely helpful. Thank you Nurseb911!Blitzkrieghttp://www.blogger.com/profile/01575227437386517253noreply@blogger.comtag:blogger.com,1999:blog-4886595570005494885.post-9897952715518262782009-01-12T09:24:00.000-05:002009-01-12T09:24:00.000-05:00IMO this is a very professional presentation which is far superior to the typical sell-side analysis that one sees on discount brokerage web sites. What is most impressive to me is the depth of the business analysis rather than spending an huge amount of effort on projections and value estimates that are rarely accurate. It is easier in my mind to make an accurate case for ownership based on business analysis rather than some sort of numeric justification. Past history should teach us that efforts to predict investment performance based solely on numeric analysis is mediocre at best.<BR/><BR/>scomacScotthttp://www.blogger.com/profile/00953764485669683921noreply@blogger.com