Where Can Investors Look in Search of Value Stocks?

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June 18 (Bloomberg) -- David Winters, founder at Wintergreen Advisers, examines where to find value as an investor and dilution of shares at certain companies. He speaks on Bloomberg Television’s “Bloomberg Surveillance.”

The auto business is a lousy business.

The economics over time have been terrible.

You want to be in businesses where the odds are in your favor, tom.

To those of us who have enjoyed losing money in a market, if you look at the airlines and the autos, are we too dumb to guess the bottom and get out at the top?

Yuan securities were the odds are overwhelmingly in your favor.

Autos and airlines are really tough.

You show up and you have a negative coupon.

The banks are linked right in with autos because you need the loans to make the gm move.

We like finance companies that do not borrow money.

We owned some franklin resources and mastercard.

The idea of making loans come the history of companies that make loans are not good.

We like companies that generate lots of cash.

The value proposition is certainly there.

Especially if you look at how many of them are trading below the premium.

Isn't there an argument to be made for the fact that commercial industrial loans are picking up again and there is a second look given how cheaply they are trading?


You want to find the best deals.

If it's in a company that can generate higher rates of return with no leverage and is improving economics as opposed to a company that has a lot of leverage and is -- financials have more than they used to.

Capital ratios around 9%. that is 10 to one.

It used to be 30 to one.

If you own a company -- i want to work on your notoriety right now.

Are you suggesting there are other coca-cola's out there of management that are service dishes managing share ownership to take over a company?

We look at this very carefully.

Coca-cola, we were surprised with.

Who is the company that is managing share count for shareholders?

I can't tell you who is running the business line management pockets.

We were shocked with the behavior of coke.

Intel was iconic.

On a track to retire a third of its shares over a decade.

Help me understand what is wrong with owners or operators owning 13% of the shares.

They are very aligned with shareholders.

How much is too much?

How much do you get paid for generating a big coupon?

You should not have a bigger and bigger slice of the pie.

Fair enough.

In the case of iconic people saying things should be run for shareholders and it's not run for shareholders -- if they deserve it, reward them.

If they don't -- would you suggest that mr.

Buffett is just talking his book off at that time percent preferred dividend -- 9% preferred dividend?

He is a good guy.

He has said no excessive pay.

He participated in an lbo last year.

He left people behind.

Let's get to the agenda right now.

We have to focus on the stories coming up that will make news throughout the day.

Tom, you are looking at 2:00. mark crumpton will have our fed coverage for you.

I think it's more new wants than people think.

-- nuanced than people think.


mckie will be at the news conference -- michael mckee will be at the news conference.

I'm really interested -- maybe as big as make mexico and brazil in the world cup.

There is a firm and here -- ferment here.

Tension between ms.

Yellen and the market.

This text has been automatically generated. It may not be 100% accurate.


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