Will QR National Be A Value.able Company?

Pretty soon, the QR National prospectus will hit your mailboxes. Its the biggest float since Telstra’s 2006 offering and the second largest in Australia’s history, so the PR companies and the communication consultants will be out in force doing their job for the vendors. But who will represent the buyers? We will! Value.able Graduates, sharpen your pencils! If you have any thoughts to share right now, go ahead. We already have received a number of comments:

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Who Is In Front Of The Reporting Season Avalanche?

We are now two weeks into one of the most important times of the year for investors – reporting season. Eighty companies have reported to date, some good, some not so good – I know this because I track every single one. Yes, I am very busy. Are you wondering which companies are my A1’s now and which stocks I am interested in? In the last two weeks you will have heard me on TV saying I have bought a few things. Well, I don’t buy C5s so read on.

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QAN & JBH Results – What Do You Think Roger?

Here we are in the midst of reporting season and there are some reasonably predictable results. Qantas reported a profit today that was less than a quarter of its profit more than ten years ago. The airline reported a $112 million profit but that was boosted by $1 billion of revenue from its Frequent Flyer program and a $300 reduction in employment costs. For those of you interested in the real numbers, the company actually lost $302 million (see my chapter in Value.able on cash flow) and this can be explained by the very wide gap between the depreciation item in the profit and loss statement and the real expenditure on property plant & equipment. Depreciation looks backwards, but new planes cost more.

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Is Apple an A1?

Did you buy an iPhone between October 2007 and December 2009? Over 41 million people did. Maybe you and 1.7 million others queued outside an Apple store because you had to have the new iPhone 4 in its first week of release, or you are one of the 45,000 people per day buying an iPad? The numbers are astounding.

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Can Ausenco Be An A1 Again?

I was on the Sky Business Channel’s Your Money Your Call a couple of weeks ago. The next day Phil let me know how disappointed he was on my Facebook page – his email wasn’t featured on the show and he couldn’t get through on the phone. I should let you know that until I am hosting a program (don’t get any ideas!), I don’t have a say in which calls are taken and what emails are featured. I did however promise to share my observations on Ausenco with the disclaimer that they are didactic.

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What Do You Know?

You may or may not be aware that I post my thoughts at my own blog. Whilst I share my insights because I want investors to see that valuing companies works better than trading the tip given at your most social occasion, there are many investors who have insights of their own that are extraordinarily valuable and worth sharing.

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