December was a busy month for me and the books. I read three books during those 31 days -- all investing related -- and thought it would be a good time to jot down some thoughts I had on each book. I'm not sure if I should be impressed with reading three books in one … Continue reading December 2018 Book Reviews
I’ve probably said this sentence too many times, but it's worth repeating: Boring businesses can be fertile places to find great investments. What makes boring businesses so exciting? They never go away no matter the economic condition. This doesn’t mean that share prices of these businesses won’t falter if an entire economy declines; but it … Continue reading Another Boring Business: Construction Partners, Inc. (ROAD)
1Q 2018 2Q 2018 3Q 2018 4Q 2018 YTD Rockvue Capital 6.70% 0.40% 2.66% -7.56% 2.20% S&P 500 -1.22% 2.93% 7.20% -13.77% -4.86% Russell 2000 -2.05% 7.43% 3.26% -19.39% -10.75% RC vs. S&P 7.92% -2.53% -4.54% 6.21% 7.06% RC vs. Russell 8.75% -7.03% -0.60% 11.83% 12.95% Dear Readers, The Inaugural year is in … Continue reading 2018 Annual Investors Letter
Frontdoor, Inc. (FTDR) specializes in all areas of home servicing from improvement, to repairing, and maintaining. The company's goal is to take the hassle out of owning a home through its large network of provided services. Frontdoor has 2 million customers and 15,000 contractors, making it the largest home servicing company by nearly four times. … Continue reading Frontdoor, Inc. – Growing Core Business with Recurring Revenue Model & High Value-Add Services
Garrett Motion (GTX) is the newly spun-off company from its parent, Honeywell, Inc. The company designs, manufactures and sells turbocharger and electric-boosting engines and engine technologies for Original Equipment Manufactures (OEM's) as well as aftermarket. GTX is a global leader in technologically advanced turbos and boosters, delivering products across gasoline, diesel, natural gas and electric … Continue reading A Spin-Off in The Auto-Parts Industry … What’s (Not) To Like?
1Q 2018 2Q 2018 3Q 2018 YTD Rockvue Capital 6.70% 0.40% 2.66% 9.76% S&P 500 -1.22% 2.93% 7.20% 8.91% Russel 2000 -2.05% 7.43% 3.26% 8.64% RC vs. S&P 8.25% -2.53% -4.54% 0.85% RC vs. Russel 9.08% -7.03% -0.60% 1.12% "To Improve is to change, so to be perfect is to have changed often." - Winston … Continue reading Q3 2018 Letter
Entravision Communications (EVC) is a Spanish-based global multimedia company that reaches its audience through television, radio, and digital segments. The company owns and operates 55 television stations spread out through California, Connecticut, Florida, Kansas, Massachusetts, Nevada, New Mexico, Texas, and Washington, D.C. The company operates in 19 of the top 50 U.S. Hispanic markets and … Continue reading Entravision Communications: Ridiculously Cheap & High FCF Yields
Greystone Logistics is a manufacturing and leasing company specializing in the production, selling, and leasing of high quality plastic pallets for the automotive, chemical, pharmaceutical, consumer product, and food & beverage industries. Greystone is the only publicly traded company that specializes in manufacturing of plastic pallets, and they are the largest plastic pallet manufacturer in … Continue reading Boring Businesses Part Deux: Greystone Logistics (GLGI)
Estre Ambiental is the largest waste management company in Brazil and Latin America formed via a SPAC offering with Boulevard Acquisition Corp II in December 2017. The company provides collection, transfer, recycling and disposal services to more than 31 million people. Estre (ESTR) is also the sole owner of the largest number of regulated landfills … Continue reading One Man’s Trash Is Another Man’s Treasure (ESTR/ESTRW)
China Mobile is a telecommunications operator formed via a spin-off of Chinese government-owned entity China Telecom (spun off in 1999). The company provides cellular telecom services such as voice, voice value-added, data streaming, and network planning. China Mobile (CHL) is the largest telecom operator in China and in the world. It's captured 64% of the 4G … Continue reading China Mobile: Good Co. / Bad Gov.