Seeking Alpha

Apart from the investment articles in this blog, I also publish investment articles for Seeking Alpha. These are mainly about North American companies.  Those articles in Seeking Alpha are exclusive in the sense that there are not republished elsewhere. There are not even republished in this blog. As such I have provided a separate page here where you can jump to the various Seeking Alpha articles.

I have grouped the articles in Seeking Alpha by sectors and in alphabetical order. If there are several articles on a particular company, I have grouped them together with the latest in the bottom of the group.

Aggregates

• Martin Marietta Materials: Revenue Growth Hides The Real Picture

• Summit Materials: A Growth Trap For The Retail Investor

• Vulcan Materials: No Fundamental Basis For The High Price

Aluminum

• Alcoa: Taxes Are Killing The Value

• Alcoa: Exploring The Mystery Of High Tax Rates

• Arconic: Fundamental Issues Coupled With No Margin Of Safety

• Century Aluminum Is Not A Growth Stock

• Century Aluminum: A 7-Foot Bar To Jump Over

• Constellium: Fundamental Issues Coupled With No Margin Of Safety

• Kaiser Aluminum: The Metal Price Neutral Approach Is Not Working Fully

• Tredegar: A Brighter Future But Not A Value Buy Yet

Auto Parts

• Allison Transmission: The Market Yet To Recognize This Compounder

• Aptiv: Minimal Revenue Growth With Declining Returns

• Terex: The Market Has Missed This Wonderful Company

• Terex: Still A Buy Even If The ESG Acquisition Lowers Its Intrinsic Value (Valuation Update)

• Wabash National Corporation: A Wonderful Company But In A Low-Growth Sector

• Wabash National: Value Has Emerged For This Wonderful Company (Rating Upgrade)

Building materials

• Advanced Drainage Systems: Likely Not A Sustainable Performance

• Atkore: The Party Is Over With The Declining Prices

• AZEK: An Unsustainable Reinvestment Rate Via Acquisitions Hid The Performance Problems

• Builders FirstSource: Don't Be Mesmerized By The Past Few Years' Performance

• Builders FirstSource: Not A Growth Stock Viewed Through The Greenwald Lens

• Janus International: Timing And Size Of Acquisitions Impact Value Proposition

• Masonite International: The Market Is Not Pricing This As A Cyclical Company

• Mueller Industries Benefited From Extraordinary Product Price Spikes, But These Are Coming Down And So Will Its Performance

• PGT Innovations: The Miter Offer Is Not Good Enough, But There Is No Better Alternative

• PPG Industries Acquisition Strategy Fails To Deliver Growth

• Sherwin-Williams: The Market Price Has Run Ahead Of Its Acquisitions

• Simpson Manufacturing: Not Enough Margin Of Safety For This 'Wonderful' Company

• UFP Industries: Overvalued, Even If It Can Continue To Grow With Acquisitions

• Xylem: Bigger Does Not Mean Better Shareholder Value

Chemicals

• Alto Ingredients' Market Price Has Overtaken Its Transformation Plans

• The Market Is Not Pricing CVR Partners Like A Cyclical Company

• FMC: The Market Is Overreacting To The Industry's Destocking

Energy

• Capstone Green Energy: All Is Not Lost

• Generac - An Irrational Price

• Generac: Not Running On Full Power As The Earnings Seem To Be From Generators

• Generac: What To Do If You Have Bought It At A High Price

• Nextracker Is On Track To Deliver Better Returns

• Weatherford: The Market Is Not Pricing It As A Cyclical Company

Furniture/Home Furnishing

• Leggett & Platt: The Specialty Foam Potential

• Leggett & Platt: Limited Financial Benefits From ECS Acquisition

• Sleep Number: Not A High Growth Company, But An Investment Opportunity

• Steelcase: A Challenging Turnaround Case

• Tempur-Sealy: Time To Exit

• Tempur Sealy: Still Not The Time To Buy

• Tempur Sealy Is A Cyclical Company And Should Be Valued As Such

• Tempur Sealy Is Underpriced Only If You View It As A Growth Company

• Tempur Sealy + Mattress Firm - Value Of Synergies Fully Reflected In Market Price

• Virco: The Wind Of Fortune Is Blowing In Its Favor

Healthcare

• ResMed: Growing Returns With Continuous Acquisitions Led To A Margin Of Safety

• Walgreens Boots Alliance - A Company In Transition

Homebuilders

• The Market Is Not Pricing D.R. Horton As A Cyclical Group

• Evidence Doesn't Suggest That D.R. Horton Is A Growth Stock. Don't Value It As Such

• D.R. Horton: Still A Cyclical Company Despite Its Size And Geographical Spread

• KB Home: This Is A Cyclical Stock. All Signs Point To A Short Opportunity

• KB Home: Revenue Shrank Over The Cycle

• Lennar: No Margin Of Safety From A Cyclical Perspective

• Lennar: The Market Likely Isn't Considering The Cyclical Evidence

• MDC Holdings - Don't Be Mesmerized By The Current Performance, This Is A Cyclical Industry

• MDC Holdings Is A Cigar-Butt Opportunity

• M.D.C. Holdings: Not The Best Financially But Has A Margin Of Safety

• Meritage Homes And KB Home: Fundamental Trading Opportunities

• Meritage Homes: Look At Its Performance Over The Cycle

• Meritage - Not An Investment Opportunity

• M/I Homes: No Margin Of Safety Even With Optimistic Scenarios

• NVR: A Good Jockey On A Strong Horse Riding Into A High Inflation Environment

• NVR: Lots Of Cash But No Margin Of Safety

• PulteGroup: No Margin Of Safety Based On A Cyclical Perspective

• Toll Brothers: No Margin Of Safety Even With Uptick In Long-Term Annual Average Housing Starts

• Home Builders' Base Rates: A Reference For Better Fundamental Analysis

Insulation

• Installed Building Products: Not A Sustainable Reinvestment Rate

• TopBuild Corp.: Benefiting From Growing Construction Spending, But I See No Margin Of Safety

Misc

• Comfort Systems USA: The Market Has Overpriced Its Growth

• Core Molding Technologies: Outlier Product Prices Painted A Misleading Performance

• Snap-on Is Trading At A Price That You Should Snap On

• Stanley Black & Decker Needs A Fix To Meet Its 2025 Business Direction

• Trane Technologies: Fundamentally Sound But Without Any Margin Of Safety

Packaging

• Amcor: An Underpriced Fundamentally Sound Company

• AptarGroup: The Market Price Has Run Ahead Of Its Performance

• Avery Dennison: Fundamentally Sound But Fully Priced

• DS Smith: Not A Wonderful Company Being Overpriced

• Graphic Packaging: Yet To Deliver The Productivity-Driven Margin Improvement Of Vision 2025

• International Paper: The Market Has Overpriced It As A Standalone Business

• The Combination Of International Paper + DS Smith Is Overpriced

• Sealed Air: The Market Has Overshot On Its Way Down

• Silgan: The Historical Growth Rate, While Not Fantastic, Is Even Not Sustainable

• Smurfit Kappa: Leveraging Its Track Record To Create Value From The Proposed WestRock Acquisition

• Smurfit Kappa And WestRock: Exploring The Value Of Synergy

• WestRock Acquisitions Did Not Create Shareholder Value

REIT

• Innovative Industrial Properties: Growth Will Likely Be More Challenging

• Orion Office REIT: Value Opportunities

Steel

• Algoma Steel: Underpriced From Both Cyclical And EAF Perspectives

• Carpenter Technology: Volatile Earnings Resulting In Poor Cyclical Performance

• Carpenter Technology - The Market Is Being Irrational (Valuation Updated)

• Olympic Steel - Not Creating Shareholder Value

• Reliance Steel & Aluminum: Not A High Growth Company Despite Acquisitions

• Ryerson Made Hay While The Sun Shone. But Is The Sun Still Shining?

• Stelco Holdings: Grossly Underpriced Cyclical Growth Compan

• Stelco: The Benefits From High Steel Prices Are Likely Over

• Steel Dynamics: Wait For The Coming Price Decline

• Steel Dynamics: Still Not A Time To Buy

• Steel Dynamics: How To Flesh Out The Real Valuation Insights

• Steel Dynamics: The Margin Of Safety Is In The Aluminum Venture

• Steel Dynamics: The Aluminum Business May Be Tougher Than The Steel One

• Ternium: Improving Fundamentals And Good Margin Of Safety

• TimkenSteel - Time To Go In As The Worst Is Behind It

• TimkenSteel: Under-Priced Even Through A Cyclical Lens

• TimkenSteel Has A New Cost Structure To Be Profitable

• U.S. Steel: A Different Group Than 9 Years Ago

• U.S. Steel: Value Is There Even Without Any Contribution From Europe

• United States Steel: Better Positioned For The Coming Recession

• Universal Stainless & Alloy Products: Its Problem Is That It Is Operating Below Break-Even

• Universal Stainless: It Was Profitable In 2023 Due To High Prices, But This Is Not Sustainable

• Worthington Industries: Fundamentally The Best, But No Margin Of Safety At The Current Price

• Worthington Industries - A Sufficient Margin Of Safety Even As A Cyclical Company

• Worthington Industries: Sum Of Parts Is Greater Than The Whole

Tech

• Coherent: It Needs A Coherent Plan To Improve Efficiencies

• eXp World Holdings: More Of A Realtor Leveraging On Tech Than A Tech Platform Business

• Semtech Has A Challenging Task To Recover From Its Self-Inflicted Wound

Transport

• Golden Ocean Has Found A Way To Navigate The Cyclical Bulk Carrier Business

• It Will No Longer Be Plain Sailing For Navios

• Star Bulk Carriers: The Market Is Not Pricing The Benefits Of The Eagle Merger

Wood-based

• Boise Cascade: Overpriced And A Potential Value Trap

• Boise Cascade: Better Prospects But Still Not Time To Buy

• Boise Cascade - The Risk Is In The Valuation

• Boise Cascade Is A Cyclical Stock - Value It As Such

• Boise Cascade Benefited From High Product Prices. But This Is Not Sustainable

• BlueLinx: The Market Is Not Pricing This As A Cyclical Company

• BlueLinx: The Market Has Yet To Price In Its Improving Margins And Coming Fed Rate Cut (Rating Upgrade)

You can find more insights on how to make money in my e-book. The e-book is now available from Amazon, Kobo and Google Play. PS: If you are in Malaysia or Singapore, the e-book can only be download from Kobo and Google Play.

You can find more insights on how to make money in my e-book. The e-book is now available from Amazon, Kobo and Google Play.

PS: If you are in Malaysia or Singapore, the e-book can only be download from Kobo and Google Play. 

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