Mostly Borrowed Ideas Deep Dives, MBI Deep Dives

MBI Deep Dives

Mostly Borrowed Ideas Deep Dives

MBI is the abbreviation for “Mostly Borrowed Ideas”. Why “Mostly Borrowed Ideas?” As a generalist, I do not have a background in any particular sector. I enjoy navigating across industries, businesses, and countries to learn, understand, and connect the dots. In any case, most ideas and innovations are incremental in nature. Very few of us are smart enough to come up with truly original or groundbreaking ideas. I am Abdullah Al-Rezwan. I was born and brought up in Bangladesh. I went to University of Dhaka for my undergrad and majored in Finance. After working three and half years in Equity Research (Sell-side) covering Financial Sector in Bangladesh, I left Bangladesh to pursue my MBA in the US. I graduated within top 10% of the class from Cornell University's two-year MBA program and worked on the buy-side following my graduation. During my time at Cornell, I won two stock pitch competitions and also became finalists in four other competitions. I thoroughly enjoyed my stint as a generalist in the US large cap team at Madison Investments and covered a wide range of companies from UnitedHealth to Amazon and Boeing before US immigration reality paused my career in investment management. As my work authorization expired, I moved to Canada in January, 2021. Then in early 2022, I was able to return to the US.

Equity Bottom-Up

<ul><li>I first wrote my Deep Dive on Dollar General back in August 2023.</li><li>While I wasn't initially excited about owning a piece of the company despite the stock being down 40% from peak then, I changed my mind when the stock went down another ~25% following 2Q'23 earnings.</li><li>After today's dismal earnings, the stock went down almost another 30% since 2Q'23 earnings. </li></ul>

I first wrote my Deep Dive on Dollar General back in August 2023.While I wasn't initially excited about owning a piece of the company despite the stock being down 40% from peak then, I changed my mind when the stock went down another ~25% following 2Q'23 earnings.After today's dismal earnings, the stock went down almost another 30% since 2Q'23 earnings. 

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

<ul><li>Author may buy or sell securities related to discussed issuer without informing readers</li><li>Information presented is believed to be accurate but not guaranteed in terms of accuracy or completeness</li><li>Author's views are opinion-based and subject to change at any time; readers advised to do their own research and not base investment decisions on the note</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Author may buy or sell securities related to discussed issuer without informing readersInformation presented is believed to be accurate but not guaranteed in terms of accuracy or completenessAuthor's views are opinion-based and subject to change at any time; readers advised to do their own research and not base investment decisions on the noteThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Dollar General Corp (DG) - Wednesday, Apr 17, 2024

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Dollar General Corporation recently reported its first quarter 2024 earnings.</li><li>The highlights of the result were the company's net sales growth of 6.1% to $9.9 billion, driven by a strong increase in consumer traffic of more than 4%.</li><li>However, same-store sales growth was offset by a decline in the average transaction amount.</li></ul>

Dollar General Corporation recently reported its first quarter 2024 earnings.The highlights of the result were the company's net sales growth of 6.1% to $9.9 billion, driven by a strong increase in consumer traffic of more than 4%.However, same-store sales growth was offset by a decline in the average transaction amount.

Dollar General Corporation: Inventory Optimization and Supply Chain Efficiencies In A Changing Landscape! - Major Drivers

<ul><li>Dollar General Corporation reported its fourth-quarter 2023 earnings and the company reported a decrease in sales, with net sales dropping 3.4% to $9.9 billion in Q4, an outcome mainly attributed to the lapping sales of $678 million from the 53rd week in fiscal 2022.</li><li>Todd Vasos underscored that the decrease was partially offset by the market share growth in both dollars and units in highly consumable product sales, as well as market share growth in dollars in nonconsumable product sales.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Dollar General Corporation reported its fourth-quarter 2023 earnings and the company reported a decrease in sales, with net sales dropping 3.4% to $9.9 billion in Q4, an outcome mainly attributed to the lapping sales of $678 million from the 53rd week in fiscal 2022.Todd Vasos underscored that the decrease was partially offset by the market share growth in both dollars and units in highly consumable product sales, as well as market share growth in dollars in nonconsumable product sales.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Dollar General: Will Its Expansion Of The Mini-Market Format Work? - Major Drivers

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/trial-holdings-inc" target="_blank" data-smartkarma-citation="entities:36821:1" rel="noopener">Trial Holdings (5882 JP)</a> priced its IPO at JPY1,700 per share to raise gross proceeds of US$256 million. The shares will start trading on 21 March.</li>
<li>We previously discussed the IPO in <a href="https://www.smartkarma.com/insights/trial-holdings-ipo-the-investment-case" target="_blank" data-smartkarma-citation="insights:130521" rel="noopener">Trial Holdings IPO: The Investment Case</a> and <a href="https://www.smartkarma.com/insights/trial-holdings-ipo-valuation-thoughts" target="_blank" data-smartkarma-citation="insights:132126" rel="noopener">Trial Holdings IPO: Valuation Thoughts</a>. </li>
<li>The peers have modestly re-rated since the prospectus was released on February 19. The IPO price remains attractive. </li>
</ul>



Trial Holdings (5882 JP) priced its IPO at JPY1,700 per share to raise gross proceeds of US$256 million. The shares will start trading on 21 March.
We previously discussed the IPO in Trial Holdings IPO: The Investment Case and Trial Holdings IPO: Valuation Thoughts. 
The peers have modestly re-rated since the prospectus was released on February 19. The IPO price remains attractive. 


United States

Dollar General Corporation operates a chain of discount retail stores located primarily in the southern, southwestern, midwestern, and eastern United States. The Company offer a broad selection of merchandise, including consumable products such as food, paper and cleaning products, health, beauty, pet supplies, and non-consumables such as seasonal merchandise.

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Dollar General (DG US)

Dollar General 2Q'24 Update

While I wasn't initially excited about owning a piece of the company despite the stock being down 40% from peak then, I changed my mind when the...

MBI Deep Dives

Dollar General Corp (DG) - Wednesday, Apr 17, 2024

Author's views are opinion-based and subject to change at any time; readers advised to do their own research and not base investment decisions on...

Value Investors Club (VIC)

Dollar General Corporation: Inventory Optimization and Supply Chain Efficiencies In A Changing Landscape! - Major Drivers

Dollar General Corporation recently reported its first quarter 2024 earnings. The highlights of the result were the company's net sales growth of...

Baptista Research

Dollar General: Will Its Expansion Of The Mini-Market Format Work? - Major Drivers

Dollar General Corporation reported its fourth-quarter 2023 earnings and the company reported a decrease in sales, with net sales dropping 3.4% to...

Baptista Research

Trial Holdings IPO: Trading Debut

The shares will start trading on 21 March. The peers have modestly re-rated since the prospectus was released on February 19. The IPO price remains...

Arun George

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