Value Investing

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.

Equity Bottom-Up

<ul>
<li>The massive drop following Salesforce's recent earnings announcement is a grim sign and it does not appear that the market is overreacting.</li>
<li>The issue of actual profitability and non-GAAP adjustments is where investors should be looking at.</li>
<li>As double-digit future revenue growth rate is already priced in, Salesforce will likely need a new catalyst to dispel investors' fears.</li>
</ul>


The massive drop following Salesforce's recent earnings announcement is a grim sign and it does not appear that the market is overreacting.
The issue of actual profitability and non-GAAP adjustments is where investors should be looking at.
As double-digit future revenue growth rate is already priced in, Salesforce will likely need a new catalyst to dispel investors' fears.


セールスフォースはさらなる大規模買収を急務としているかもしれない

Salesforce.Com Inc

セールスフォースはさらなる大規模買収を急務としているかもしれない