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>The recently announced restructuring is unlikely to be the silver bullet that many investors are expecting.</li>
<li>Kellogg is now faced with the challenge of improving gross margins.</li>
<li>The high dividend yield is also not as attractive once we factor in the probability of future dividend growth, says Kellogg.</li>
</ul>


The recently announced restructuring is unlikely to be the silver bullet that many investors are expecting.
Kellogg is now faced with the challenge of improving gross margins.
The high dividend yield is also not as attractive once we factor in the probability of future dividend growth, says Kellogg.


Kellogg: Focusing On Snacking Is Not A Silver Bullet

Kellogg Co

Kellogg: Focusing On Snacking Is Not A Silver Bullet