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>There is a very compelling narrative around Tesla, but unconventional monetary policy is having a strong impact on the share price.</li>
<li>Aided by ample liquidity, momentum trade has become a key driving force of Tesla's share price once we account for value performance.</li>
<li>At this point in time, value rotation and momentum trades have far stronger implications for Tesla's share price than business fundamentals do.</li>
</ul>


There is a very compelling narrative around Tesla, but unconventional monetary policy is having a strong impact on the share price.
Aided by ample liquidity, momentum trade has become a key driving force of Tesla's share price once we account for value performance.
At this point in time, value rotation and momentum trades have far stronger implications for Tesla's share price than business fundamentals do.


Tesla

Tesla: The Narrative Bias