One of the best value investors that I follow is Donald Yacktman.  I appreciate the way that he looks at risk-adjusted returns and takes a truly long-term perspective with only about 7% turnover, which is exceptionally low for a mutual fund.  Right now he is finding the most value in large consumer staples companies such...Read More

Here is Tim Travis’ research report on Procter & Gamble Company (PG) on Jan 9th 2013.   http://seekingalpha.com/article/1102661-procter-gambles-long-term-outlook-is-bright-despite-disappointing-recent-performanceRead More

Below is the link to a video of Bill Ackman discussing his recent purchase of P&G.  This is an absolutely huge position for him representing very high conviction.  We have been investing in P&G as well primarily through the selling of long term put options.  While Ackman’s stake is close to $2 billion it still...Read More

There is some big news today as Bill Ackman appears to be getting involved in Procter & Gamble (PG).  At T&T Capital Management we have recently been getting more involved in PG as well as the stock is very cheap at about 13 times earnings with a dividend near 4%.  The company has made some...Read More

Procter & Gamble’s (PG) struggles continue as the the company lowered its earnings guidance for the current quarter as well as for the 2013 fiscal year.  The problems aren’t just from a lackluster global economy but instead are also market share related.  The company announced that they are going to cut spending in emerging markets...Read More

Procter & Gamble (PG) reported disappointing earnings last week and cut its earnings forecast to $3.88.  PG is struggling in terms of their pricing as competition is stealing market share by being lower in price.  This in turn has PG on the defensive having to lower prices which obviously has a negative impact on margins....Read More

Today there is a very interesting article on http://www.bloomberg.com/news/2012-01-30/longest-s-p-500-valuation-slump-since-nixon-discounting-record-u-s-profit.html showing the immense pessimism priced into US equities, exhibited by the extremely low price/earnings ratios.  Markets go from periods of pessimism to periods of exuberance, but what is striking about the last several years is that at no point has the market rallied to a point...Read More