Fundamental Equity Research Analysis, Ben Jones Investments

Ben Jones Investments

Fundamental Equity Research Analysis

BJI provides high conviction investment ideas on listed equities to institutional clients and high net worth individuals through our annual research subscription. We conduct fundamental bottom-up research on businesses that we believe trade to a discount against their intrinsic value with a wide margin of safety. Our aim is to generate investment ideas capable of long-term sustainable returns on capital. Our research is based on the following principles:

Independent ideas that are based on our own detailed research on businesses we understand. We are not commissioned or compensated by companies that are the subject of reports.

Intrinsic value is our calculation of the business based on the cash we expect the business to return to its owners over the future, discounted at an appropriate rate.

Margin of safety is a vital part of our philosophy. It’s the gap between the market value of a company and our perception of intrinsic value. All attempts of understanding intrinsic value rely on assumptions that can’t be perfectly forecast. Significant margin of safety is the logic that minimises losses if intrinsic value has been overestimated, while allowing for greater than expected returns if underestimated.

Value is what our research seeks to uncover and provide to our clients.

Equity Bottom-Up

<ul>
<li>Taylor Wimpey (TW) is the UK’s third largest homebuilder, managing 14,154 completions in 2022.</li>
<li>Their share price has declined 44% over the last 2 years in response to rising mortgage rates.</li>
<li>While we acknowledge the short to medium term impact of rising rates, we see Taylor Wimpey’s long-term profitability as strong, and worth twice their current valuation.</li>
</ul>


Taylor Wimpey (TW) is the UK’s third largest homebuilder, managing 14,154 completions in 2022.
Their share price has declined 44% over the last 2 years in response to rising mortgage rates.
While we acknowledge the short to medium term impact of rising rates, we see Taylor Wimpey’s long-term profitability as strong, and worth twice their current valuation.


United Kingdom

Taylor Wimpey plc, through its subsidiaries, conducts business in the housing, construction and engineering, and property development and investment sectors. The Group has international housing activities in the United Kingdom and Spain.

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Taylor Wimpey (TW/ LN)

Taylor Wimpey Research Report

Taylor Wimpey (TW) is the UK’s third largest homebuilder, managing 14,154 completions in 2022.Their share price has declined 44% over the last 2...

Ben Jones Investments

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