Vladimir Dimitrov, CFA

I am a former strategy consultant with heavy exposure to business and intangible assets valuation. Throughout my career I have been focused on solving complex business problems through the lens of the overall business strategy and by incorporating a set of valuation and financial modelling techniques.

In my spare time I have been exploring the concept of value investing and in particular finding companies with sustainable competitive advantages that also trade below their intrinsic value. In addition to my bottom-up approach of individual equities I also take a more holistic view of the markets through factor investing techniques.

Value Investing

Actionable bottom-up long/short Insights on equities

Equity Bottom-Up

Fiserv, Inc. provides integrated information management and electronic commerce systems and services. The Company's solutions include transaction processing, electronic bill payment and presentment, business process outsourcing, document distribution services, and software and systems solutions.

<ul>
<li>Fiserv is valued as a slow-growth and low return on capital legacy business, although this does not appear to be the case.</li>
<li>At present, the expected topline growth rate is far from spectacular, but parts of the business are growing fast and could result in a multiple repricing.</li>
<li>Due to the acquisition of First Data, the company's improving profitability is a better measure of business performance than return on capital is.</li>
</ul>

Fiserv Inc

Fiserv - Investing In Transforming Leaders Rather Than Disruptors