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As reported by Seeking Alpha, this week saw the latest iteration of the Value Investing Congress.
Following is a summary of some of the major presenters’ investment theses, along with a quick look at how these companies have fared.
David Einhorn
Einhorn is short Green Mountain Coffee (NASDAQ:GMCR). The shares recently traded at $71.50, up $3.30, or 4.85%, on the day. The shares have traded in a 52-week range of $29.55 to $115.98 and its market capitalization is $10.95 billion. About the company: Green Mountain Coffee Roasters, Inc. roasts Arabica coffees and offers various coffee selections. The Company’s products include single-origin, estate, certified organic, Fair Trade, signature blends, and flavored coffees sold under the Green Mountain Coffee Roasters brand. Green Mountain serves offices, supermarkets, and convenience stores, and operates a direct mail business.
Jim Chanos
Jim Chanos warned about value traps, specifically, the oil companies. He highlighted Exxon Mobil (NYSE:XOM) as one, but mentioned that its peers, such as Chevron (NYSE:CVX) and Total S.A. (NYSE:TOT), are also potential value traps. Shares of Exxon Mobil recently traded at $79.98, up $1.25, or 1.59%, on the day. The shares have traded in a 52-week range of $65.08 to $88.23 and its market capitalization is $388.87 billion. Shares of Chevron recently traded at $105.22, up $1.83, or 1.76%, on the day. The shares have traded in a 52-week range of $80.41 to $109.94 and its market capitalization is $210.75 billion. Shares of Total S.A. recently traded at $52.73, up $0.94, or 1.82%, on the day. The shares have traded in a 52-week range of $40 to $64.44 and its market capitalization is $118.58 billion.
Other value traps he highlighted include GameStop (NYSE:GME), ITT Education Services (NYSE:ESI), and Vale (NYSE:VALE).
Alexander Roepers
Roepers highlighted a number of potential takeover targets, including Energizer Holdings (NYSE:ENR). He places a value of $102 per share on the company, a significant increase from the company’s recent price of $75.26. The shares are up $1.3, or 1.77%, on the day and have traded in a 52-week range of $61.60 to $84.94. Its market capitalization is $5.18 billion. About the company:Energizer Holdings, Inc. manufactures dry cell batteries and flashlights. The Company offers a full line of products, including alkaline, carbon zinc, miniature, and rechargeable batteries, as well as lighting products. Energizer also manufactures and markets a range of razor and shave related products on a global basis.
Whitney Tilson
Tilson is a fan of Berkshire Hathaway (NYSE:BRKA) and JC Penney (NYSE:JCP). He thinks that Berkshire Hathaway is a buy because the stock is at its cheapest level in more than a decade and that JC Penney, which recently traded at $32, is worth north of $75 per share.
(Note: Selected financial data are sourced from Google Finance. All data are assumed to be accurate.)
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