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

<ul>
<li>In spite of its stellar share price performance over the past year, GM is still underperforming on a mid-term basis.</li>
<li>Valuation remains conservative, in spite of the strong execution and sustained profitability.</li>
<li>Leading position in electrification, autonomous driving and connectivity will likely a significant impact on GM brands.</li>
<li>Legacy businesses remain exceptionally strong, with profitability proceeds being used used to finance future initiatives.</li>
</ul>


In spite of its stellar share price performance over the past year, GM is still underperforming on a mid-term basis.
Valuation remains conservative, in spite of the strong execution and sustained profitability.
Leading position in electrification, autonomous driving and connectivity will likely a significant impact on GM brands.
Legacy businesses remain exceptionally strong, with profitability proceeds being used used to finance future initiatives.


General Motors: Evolving Competitive Advantages