Brett Barakett's Tremblant Capital Launches Actively Managed ETF
- Tremblant Global ETF Launch: Tremblant Capital has launched the Tremblant Global ETF (TOGA) on the New York Stock Exchange, aiming for long-term capital appreciation through fundamental research and global investment management expertise.
- Investment Strategy: TOGA focuses on two categories of investments - companies undergoing disruptive change and durable long-term growth businesses, aiming to capture underappreciated growth in free cash flows.
- Investment Process: Tremblant's investment process involves business model assessment, financial model analysis, proprietary data science research, and deep industry knowledge, with 30-50 positions in developed markets.
- Brett Barakett's Perspective: Brett Barakett, Chairman and Chief Investment Officer, highlights the tax advantages and innovation of an ETF like TOGA, providing investors with benefits such as tax efficiency, liquidity, transparency, and ease of use.
- About Tremblant Capital: Founded in 2001 by Brett Barakett, Tremblant Capital is a global public equity investment firm known for its deep fundamental research, sector expertise, and long-term perspective, offering various public equity strategies.
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Analyst Views on TOGA
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Now is the moment to acquire undervalued stocks in this essential economic sector.
High Valuations: Most U.S. stock sectors are trading at elevated valuations compared to expected earnings, indicating a potentially overvalued market.
S&P 500 Concentration: The S&P 500 index, which is heavily weighted by market capitalization, has led to high concentration among a few large-cap stocks, contributing to its expensive nature.
Market Perspective: Julien Albertini, a portfolio manager, emphasizes that the overall U.S. stock market is not cheap, with certain segments being particularly overpriced.
Investment Implications: Investors in index funds tied to the S&P 500 have seen success, but the high valuations raise concerns about future performance and market sustainability.
What’s Happening with Starbucks Stock Today?
Restructuring Initiative: Starbucks announced a major restructuring plan, including the closure of underperforming coffee shops and workforce reductions, as part of its "Back to Starbucks" strategy, with projected costs around $1 billion.
Store Portfolio Review: The review identified locations that did not meet brand standards, leading to a 1% reduction in company-operated stores in fiscal 2025, while plans for expansion and store refreshes are set for fiscal 2026.
AvidXchange To Go Private For 22% Premium In M&A Deal
Acquisition Announcement: AvidXchange Holdings, Inc. is set to be acquired by Corpay, Inc. and TPG Inc. for $10 per share, valuing the company at $2.2 billion, which represents a significant premium over its recent stock prices.
Future Prospects: The acquisition is expected to enhance Corpay's earnings starting in 2026, with plans for Corpay to potentially acquire full ownership of AvidXchange by 2028, allowing for strategic changes and profit growth.
Victoria's Secret Lifts FY24 Guidance After Strong Q3: Sees Holiday Momentum
Strong Financial Performance: Victoria's Secret & Co. reported a 7% year-over-year revenue increase to $1.347 billion, surpassing expectations, with notable growth in both North America and international markets. The adjusted operating loss improved significantly from the previous year.
Positive Outlook: For the fourth quarter, the company anticipates net sales growth of 2%-4% and has revised its full-year projections upward, indicating confidence in continued momentum through the holiday season.
Baidu Takes on Tesla, Secures License To Test Self-Driving Tech in Hong Kong
Baidu's Autonomous Vehicle License: Baidu, Inc. has received a Hong Kong license to test autonomous vehicles, marking the first pilot license since new legislation was enacted in March 2024. The license allows for one self-driving car to operate on designated roads from December 9, 2024, to December 8, 2029.
Financial Performance and Expansion Plans: Despite a 3% revenue decline in the fiscal third quarter, Baidu's earnings exceeded analyst expectations. The company aims to expand its Apollo Go robotaxi service to multiple regions, including Hong Kong and Singapore, while facing challenges such as U.S. semiconductor sanctions and a weak economy.
Skechers Steps Up Global Game With 16% Q3 Sales Growth, Boosts 2024 Targets With Strong Wholesale & Athlete Appeal
Strong Sales Growth: Skechers reported a 15.9% year-over-year sales increase to $2.35 billion, surpassing expectations, with notable growth in Wholesale (20.6%) and Direct-to-Consumer (9.6%) segments across various regions.
Positive Outlook: The company raised its FY24 EPS guidance to $4.20 - $4.25 and sales guidance to $8.925 billion - $8.975 billion, while also seeing an 8.23% rise in share price premarket.
Now is the moment to acquire undervalued stocks in this essential economic sector.
High Valuations: Most U.S. stock sectors are trading at elevated valuations compared to expected earnings, indicating a potentially overvalued market.
S&P 500 Concentration: The S&P 500 index, which is heavily weighted by market capitalization, has led to high concentration among a few large-cap stocks, contributing to its expensive nature.
Market Perspective: Julien Albertini, a portfolio manager, emphasizes that the overall U.S. stock market is not cheap, with certain segments being particularly overpriced.
Investment Implications: Investors in index funds tied to the S&P 500 have seen success, but the high valuations raise concerns about future performance and market sustainability.
What’s Happening with Starbucks Stock Today?
Restructuring Initiative: Starbucks announced a major restructuring plan, including the closure of underperforming coffee shops and workforce reductions, as part of its "Back to Starbucks" strategy, with projected costs around $1 billion.
Store Portfolio Review: The review identified locations that did not meet brand standards, leading to a 1% reduction in company-operated stores in fiscal 2025, while plans for expansion and store refreshes are set for fiscal 2026.
AvidXchange To Go Private For 22% Premium In M&A Deal
Acquisition Announcement: AvidXchange Holdings, Inc. is set to be acquired by Corpay, Inc. and TPG Inc. for $10 per share, valuing the company at $2.2 billion, which represents a significant premium over its recent stock prices.
Future Prospects: The acquisition is expected to enhance Corpay's earnings starting in 2026, with plans for Corpay to potentially acquire full ownership of AvidXchange by 2028, allowing for strategic changes and profit growth.
Victoria's Secret Lifts FY24 Guidance After Strong Q3: Sees Holiday Momentum
Strong Financial Performance: Victoria's Secret & Co. reported a 7% year-over-year revenue increase to $1.347 billion, surpassing expectations, with notable growth in both North America and international markets. The adjusted operating loss improved significantly from the previous year.
Positive Outlook: For the fourth quarter, the company anticipates net sales growth of 2%-4% and has revised its full-year projections upward, indicating confidence in continued momentum through the holiday season.
Baidu Takes on Tesla, Secures License To Test Self-Driving Tech in Hong Kong
Baidu's Autonomous Vehicle License: Baidu, Inc. has received a Hong Kong license to test autonomous vehicles, marking the first pilot license since new legislation was enacted in March 2024. The license allows for one self-driving car to operate on designated roads from December 9, 2024, to December 8, 2029.
Financial Performance and Expansion Plans: Despite a 3% revenue decline in the fiscal third quarter, Baidu's earnings exceeded analyst expectations. The company aims to expand its Apollo Go robotaxi service to multiple regions, including Hong Kong and Singapore, while facing challenges such as U.S. semiconductor sanctions and a weak economy.
Skechers Steps Up Global Game With 16% Q3 Sales Growth, Boosts 2024 Targets With Strong Wholesale & Athlete Appeal
Strong Sales Growth: Skechers reported a 15.9% year-over-year sales increase to $2.35 billion, surpassing expectations, with notable growth in Wholesale (20.6%) and Direct-to-Consumer (9.6%) segments across various regions.
Positive Outlook: The company raised its FY24 EPS guidance to $4.20 - $4.25 and sales guidance to $8.925 billion - $8.975 billion, while also seeing an 8.23% rise in share price premarket.
