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>Intuit returned a negative 27% since I warned for pending risks for the share price back in November of last year.</li>
<li>While most of that disappointing performance was due to market related risks, the company's strategy seems to be changing rapidly.</li>
<li>Shifting the focus from a pure organic-led growth to an M&amp;A frenzy is a bad omen in the already richly priced software space.</li>
</ul>


Intuit returned a negative 27% since I warned for pending risks for the share price back in November of last year.
While most of that disappointing performance was due to market related risks, the company's strategy seems to be changing rapidly.
Shifting the focus from a pure organic-led growth to an M&amp;A frenzy is a bad omen in the already richly priced software space.


Intuit: A Strategy Shift And High Momentum Exposure

Intuit Inc

Intuit: A Strategy Shift And High Momentum Exposure