Value Investing

Vladimir Dimitrov, CFA

I am a former strategy consultant with heavy exposure to business and intangible assets valuation. Throughout my career I have been focused on solving complex business problems through the lens of the overall business strategy and by incorporating a set of valuation and financial modelling techniques.

In my spare time I have been exploring the concept of value investing and in particular finding companies with sustainable competitive advantages that also trade below their intrinsic value. In addition to my bottom-up approach of individual equities I also take a more holistic view of the markets through factor investing techniques.

Equity Bottom-Up

Anheuser Busch Inbev Sa/Nv / Equity Bottom-Up

<ul>
<li>AB InBev has one of the strongest fundamentals in the sector, but share price performance is still akin to a high-risk cyclical stock.</li>
<li>Lingering capital allocation mistakes still overshadow the company's industry-leading gross margin, which is now in a downtrend.</li>
<li>The overall debt risk has declined, however, AB InBev returns are now more sensitive to macroeconomic factors.</li>
</ul>


AB InBev has one of the strongest fundamentals in the sector, but share price performance is still akin to a high-risk cyclical stock.
Lingering capital allocation mistakes still overshadow the company's industry-leading gross margin, which is now in a downtrend.
The overall debt risk has declined, however, AB InBev returns are now more sensitive to macroeconomic factors.


Anheuser Busch Inbev Sa/Nv

Anheuser-Busch InBev: Something Is Amiss