by Travis Johnson, Stock Gumshoe | July 29, 2022 5:01 am
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Travis. Thank you for a great read.
Do you know any ETF that consists mostly luxury brands? While LVMH is attractive now, maybe an ETF covering this sector have less concentrated risk?
On coddling kids, my son is also going to college this fall. On the university forum, there are parents concerned about school lacking of high quality water, whatever that means. My friend’s son didn’t know how to do laundry when he first went to college. So I can see the laundry business on campus. I wonder if these kids will become more independent and break away from parents’ coddling.
@eleanor check out the ETF: LUXE. It holds a 7.5% position in LVMH and other luxury brands. Expense ratio not too bad at 0.6%
College is a great place to learn some independence in a low-stakes environment… but only if they let you 🙂
There aren’t any great US ETFs for luxury goods — there’s a mutual fund, USLUX, which hasn’t done great, and a tiny ETF, LUXE, that probably won’t survive if they don’t get some more volume and AUM. Many luxury-focused funds also get into “new” luxury, like Tesla and Apple.
There’s an Amundi ETF that follows the S&P Global Luxury index, but I don’t think it’s available in the US.
Bought SHOP for the first time ever at $31 Travis. Small like you so I can live through the vol but glad I held out.
I know you sold STEM but any quick thought on that? Receiving a pop I’m assuming due to the clean energy bill being pushed through congress. Worth holding a flier or not worth it? Thanks for all the insight!
Thank you Travis and Jonjon.
Thanks, Travis!
Thanks, Travis! Always look forward to reading your insights.
Thanks for another great summary, Travis. I was hoping you could shed some light on the upcoming “arrangment” between Nomad royalty and Sandstorm Gold.
As an FYI I think the correct otc symbol for Exor is Exxrf
Oops, did I mix up the ticker? Sorry about that.
Dear Travis, as always a thoughtful analysis this week. I have questions regarding shares of foreign companies a that don’t have depositary shares on the US bourses, and can only be bought through a ticker symbols with additional letters. For example, LVMUY and LVMHF are for the same company but why are they different ticker symbols? Perhaps different classes of shares? Are there advantages in purchasing one over the other ? Relatedly, my other question is if one could purchase foreign shares through an international brokerage platform, what are the advantages in doing so rather through the shares listed with those additional letters in US bourses (or as a correlation,what are the disadvantages of purchasing the extra lettered ticker symbol listed on US bourses rather than being able to purchase shares through an international brokerage platform?)? Thanks.
In most cases, the shares are identical — if there are two tickers it’s generally because one is an ADR and the other is not.
The challenge with OTC-listed shares, ADR or no, is usually liquidity — they are usually fairy easy to buy at a fair price, as long as the home exchange is also open (so, for a London or Paris listing, the first hour or so of NY trading), but they are sometimes harder to sell because there isn’t necessarily a US bid, or great motivation from your market maker to find a buyer quick for you.
Liquidity is almost always strongest on the home exchange, where most trading usually happens, and where there’s always a bid for the shares. It’s usually worth the extra cost or hassle of buying directly overseas if you can, in my experience.
Travis….I admire your passion for this stuff. But sometimes one must admit that all this nitpicking and getting into the weeds on stocks does not amount to a hill of beans…you may need to be more faithful to your own advice: ” Sometimes we just have to return to simplicity, and Berkshire, at its simple heart, is just the ultimate compounding machine …” I have learned quite not to complicate this stuff and not stress myself over this stuff.
With all the so-called experts out there, none can beat the SPY or QQQ in a bear market. Have you ever thought of that?
Sure you can make some money in an inverse stock and ETF in a recession as I am doing right now with GUSH and BOIL. Ironically I turned to these stocks when a so-called expert advised in his letter to buy oil as his “system” that is relied on by Wall Street pros was “bullish” on oil. You can imagine what happened after that bullish call.
For the vast majority of us, we have to wait for the good times to roll in to have any hope of a positive portfolio despite what the prognosticators are peddling. The newsletters is what really pays their rent in reality- not these great stock picks they constantly brag about. Why do you suppose they cannot remain “retired” for long?
For this reason, I could never place my money in a “lockbox” portfolio though I understand the reasoning behind it. How many times have we sold a stock that we thought was a lost cause to see it turn around the next week or the next month? And then we fear getting back into it again for fear it might head south again and lose even more money.
The ONLY way I would set up a. 5-year duration lockbox portfolio is if I am able to launch it at the very bottom of a bear market AND adding 25% of the total fund to it over a four-year period, in the case of a 5 year commitment. That would appeal to me.
I know we are all trying to find the next Google and the next Facebook. But how many of are willing to concede that the “next” Google, Apple and Facebook maybe Apple, Google and Facebook.
Investing in the stock market is way simpler than we have the capacity to admit due to human emotion. This is why the investment letter pushers are so successful at playing on our minds and depriving us of our money by stimulating our greed and selling us hope.
When in doubt, stick with Buffett…and always head for the shore when the financial skies turn inclement.
Stellantis makes the worst cars in Europe, I’ve owned a few and driven some more. Long term I really don’t see how anybody can turn this around
Travis….I admire your passion for this stuff. But sometimes one must admit that all this nitpicking, number-crunching and getting in-the-weeds on stocks does not amount to a hill of beans…you may need to be more faithful to your own advice:
” Sometimes we just have to return to simplicity, and Berkshire, at its simple heart, is just the ultimate compounding machine …”
I have learned quite recently learned not to complicate this stuff and not stress myself to the point of making any gains I might accrue emotionally unhealthy.
With all the so-called experts out there, none can beat the SPY or QQQ in a bear market. Have you ever thought of that?
Sure you can make some money in an inverse stock or ETF in a recession. But to make money you essentially have to be in the right sector at the right time as I am doing right now with GUSH and BOIL.
Ironically I turned to these stocks when a so-called expert advised in his letter to buy oil as his “system” that is relied on by Wall Street pros was “bullish” on oil. You can imagine what happened after that bullish call.
For the vast majority of us, we have to wait for the good times to roll in to have any hope of a positive portfolio despite what the prognosticators are peddling. The newsletters is what really pays their rent in reality- not these great stock picks they constantly brag about.
Why do you suppose they cannot remain “retired” for long? For this reason, I could never place my money in a “lockbox” portfolio, though I understand the reasoning behind it.
How many times have we sold a stock that we thought was a lost cause to see it turn around the next week or the next month? And then we fear getting back into it anew for fear it might head south again and lose us even more money.
The ONLY way I would set up a. 5-year duration lockbox portfolio is if I am able to launch it 1) at the very bottom of a bear market AND 2) by adding 25% of the total fund to it over a four-year period, in the case of a 5-year commitment. That would appeal to me.
I know we are all trying to find the next Google and the next Facebook. But how many of us are willing to concede that the “next” Google, Apple and Facebook maybe Apple, Google and Facebook.
Investing in the stock market is way simpler than we have the capacity to admit due to our human emotion. This is why the investment letter pushers are so successful at playing with our minds and depriving us of our money by stimulating our greed and selling us hope.
When in doubt, stick with Buffett…and always head for the shore when the financial skies turn inclement.
Submission revised by author. Please delete previous.
lol ,, if i had a brain,,,
This ROKU quarter and guide was really bad imo
– Platform gross margin down 9% as a result of lower M&E spend. Wish they broke out the GM for ads on a standalone basis. Thinking this is prob low 50%
– Higher exposure to scatter market vs. linear tv where most ads are sold though upfronts make Roku vulnerable and their rev stream less predictable
– AVOD competitors like Tubi (Fox) Pluto (Viacom) Hulu (Disney) are more insulated as their inventory is sold across much larger ad businesses and have much stronger advertiser relationships
– Is Rokus positioning less secure than some of the AVOD competitors? YT guide did not indicate the level of softness that Rokus guide did. Will be interesting to see what TTD has to say
– Frequency caps on Roku channel and inability to sell ads against specific shows from 3rd party distributors may be putting Roku at a competitive disadvantage. Doesn’t seem like they will see any tangible benefit from NFLX or Dis moving to AVOD
– What was the impact to the 606 adjustment on rev this Q and 3Q guide? They are seeing enough softness in the market that they made assumption updates to their multi-element contracts. Would love to have a breakout of those updates and the impact on revenue. Think this was mostly related to the button sales
– Active accounts grew nicely but that was driven by a temporary bump in higher tv sales as retailers dropped prices. Think we see this # slow down significantly going into YE
– Ramp in opex going into the year now seems like a bad move and is impacting profitability. Was glad to see they plan on cutting opex going forward and need to see them moving back towards profitability
Some newsletters suggest strongly that they invest for the long haul and heavily encourage investors to by SHOP and ROKU (for example) and hold onto them for 5,10,15 years. Now in that time period there will be an enormous number of “disrupters” who could come along with alternative and better ideas/products/services etc. The newsletters only ever, in my experience, suggest buying more and never selling as that might suggest, shock horror that they have got it wrong.
If you’re going for long-term growth stories like those, losing on most of them is typically the price you pay for winning big on one or two… but those one or two wins are certainly not guaranteed,
So it ain’t easy.