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

International Business Machines / Equity Bottom-Up

<ul>
<li>IBM's almost at par with the market performance over the course of 2021 could prove to be short-lived.</li>
<li>In spite of the glimpse of hope in the Q2 2021 results, the financial situation of IBM remains quite challenging.</li>
<li>IBM still lacks a solid strategy in how to turn around its infrastructure business, while Red Hat is still expected to do all the heavy lifting.</li>
</ul>


IBM's almost at par with the market performance over the course of 2021 could prove to be short-lived.
In spite of the glimpse of hope in the Q2 2021 results, the financial situation of IBM remains quite challenging.
IBM still lacks a solid strategy in how to turn around its infrastructure business, while Red Hat is still expected to do all the heavy lifting.


International Business Machines

IBM: More Of The Same