The Warren Buffet Investment Strategy Page
The Buffett-based "Patient Investor" strategy is my interpretation of Buffett's approach and is based on the book Buffettology, written by Buffett's ex daughter-in-law Mary Buffett. The Buffett strategy buys stocks with an extremely long-term horizon. In fact, Buffett has held some of his investments for decades, and he's said that Berkshire's favourite holding period is "forever". Buffett doesn't try to capitalize on small day-to-day stock market movements; instead, he focuses on a company's business, because he knows that, over time, the stocks of firms with strong businesses and good long-term prospects are likely to rise considerably, regardless of what those stocks are doing today or tomorrow or next week. To find those strong businesses, this strategy goes back as far as a decade into a company's history, so only stocks with consistent long-term track records can pass this methodology.
10 Share Model Portfolio
Myles Rennie's Buffett Analysis on 28 June 2013
Ticker | Company | Interest | Buffett Score | Price | Exp Avg Ret | Mark Cap | P/E | Mean P/E | Yield % | EPS %CAGR |
LEW | Lewis Group Ltd | 2/3 | 96.30% | 6,300.00 | 20.27% | 6,177,651,417 | 6.28 | 8.99 | 15.92% | 6.35% |
KIO | Kumba Iron Ore Ltd | 1/3 | 96.15% | 46,060.00 | 39.47% | 148,340,202,214 | 12.13 | 16.25 | 8.24% | 13.33% |
SPP | The Spar Group Ltd | 1/3 | 96.15% | 11,999.00 | 16.55% | 20,683,600,703 | 18.38 | 17.09 | 5.44% | 11.02% |
TRU | Truworths Int Ltd | 1/3 | 96.15% | 8,695.00 | 15.60% | 36,866,800,000 | 14.98 | 13.98 | 6.68% | 15.54% |
DSY | Discovery Ltd | 1/3 | 92.59% | 8,406.00 | 13.37% | 49,752,793,103 | 19.95 | 18.25 | 5.01% | 22.21% |
HWN | Howden Africa Hldgs Ltd | 1/3 | 92.31% | 3,600.00 | 41.24% | 2,366,244,000 | 14.75 | 10.59 | 6.78% | 27.39% |
ASR | Assore Ltd | 2/3 | 92.31% | 32,000.00 | 38.63% | 44,674,240,000 | 11.99 | 10.73 | 8.34% | 11.55% |
CSB | Cashbuild Ltd | 1/3 | 88.89% | 13,300.00 | 20.08% | 3,350,244,863 | 10.65 | 12.52 | 9.39% | 15.33% |
CPL | Capital Property Fund | 2/3 | 88.46% | 1,064.00 | 20.27% | - | 9.76 | 9.30 | 10.25% | 25.04% |
BIL | BHP Billiton plc | 1/3 | 85.19% | 25,422.00 | 39.62% | 543,061,066,116 | 12.08 | 14.57 | 8.28% | 6.93% |
Note that I analyse the JSE daily producing a Buffett score for each share listed on the JSE. If there is a particular share you are interested in don't hesitate to contact me and request the information.
Detailed Model Portfolio Analysis
This section shows the top company from the list above in more detail at the specified date of analysis.
Myles Rennie's Buffett Analysis on 28 June 2013
Buffett Analysis | |||||||||||
Company Name | Lewis Group Ltd | ||||||||||
Company Ticker | LEW | ||||||||||
Date of Analysis | 2013/06/28 | ||||||||||
Share Price (Close) | 6,300 | ||||||||||
P/E | 6.28 | ||||||||||
P/B | 1.30 | ||||||||||
Earnings per Share | 1,002.90 | ||||||||||
Summary for Buffett Analysis | |||||||||||
Earnings Predictability | PASS | ||||||||||
Debt Service | PASS | ||||||||||
Return in Equity | PASS | ||||||||||
Return in Invested Capital | PASS | ||||||||||
Free Cash Flow to Equity Holders | PASS | ||||||||||
Return on Retained Earnings | PASS | ||||||||||
Share Repurchase | PASS | ||||||||||
Initial Rate of Return | PASS | ||||||||||
Expected Return | PASS | ||||||||||
Detailed Screening Score: 96.30% | |||||||||||
STAGE 1: Is LEW a Buffett type company? | |||||||||||
1. Earnings Predictability - PASS | |||||||||||
Buffett likes companies to have solid, stable earnings that are continually expanding. This allows him to accurately predict future earnings. Annual earnings per share from earliest to most recent were 689.80, 630.50, 642.60, 781.10, 882.50 for the last 5 years. Buffett would consider LEW's earnings predictable, although earnings have declined 1 time in the past 5 years, with the most recent decline occuring 4years ago. The dips have totaled -8.60%. LEW's compound annual EPS growth rate is 6.35% per year, based on the historical annual earnings per share of the company. | |||||||||||
2. Ability to pay off debt - PASS | |||||||||||
Buffett likes companies that are conservatively financed. LEW currently has debt of 1160.54 per share and earnings of 882.50 per share, which could be used to pay off the debt in less than 2 years, which Buffett would consider exceptional. | |||||||||||
3. Above Average ROE - PASS | |||||||||||
Buffett likes companies with above average return on equity of at least 15% or better, as this is an indicator that the company has a durable competitive advantage. The average ROE for LEW, over the last 5 years, is 19.76%, which is high enough to pass. It is not enough that the average be at least 15%. For each of the last 5 years, with the possible exception of the last fiscal year, the ROE must be at least 10% for Buffett to feel comfortable that the ROE is consistent. In addition, the average ROE over the last 3 years must also exceed 15%. The ROE for the last 5 years, from earliest to latest, is 23.53%, 19.35%, 18.07%, 19.10%, 18.73%, and the average ROE over the last 3 years is 18.63%, thus passing this criterion. | |||||||||||
4. Above Average ROIC - PASS | |||||||||||
Because some companies can be financed with debt that is many times their equity, they can show a consistently high ROE, yet still be in unattractive price competitive businesses. To screen this out, for non-financial companies Buffett also requires that the average Return On Invested Capital (ROIC) be at least 12% and consistent. In addition, the average ROIC over the last 3 years must also exceed 12%. The average ROIC for LEW, over the last 5 years, is 17.83% and the average ROIC over the past 3 years is 16.03%, which is high enough to pass. It is not enough that the average be at least 12%. For each of the last 5 years the ROIC must be at least 9% for Buffett to feel comfortable that the ROIC is consistent. The ROIC for the last 5 years, from earliest to latest, is 22.92%, 18.15%, 15.73%, 16.66%, 15.70%, thus passing this criterion. | |||||||||||
5. FCFE and Capital Expenditure - PASS | |||||||||||
Buffett likes companies that do not have major capital expenditures. That is, he looks for companies that do not need to a lot of money on major upgrades of plant and equipment or on research and development to stay competitive. LEW's latest free cash flow to firm per share of 380.39 is positive, indicating that the company is consistently generating more cash that it is consuming. This is a favourable sign, and so LEW passes this criterion. | |||||||||||
6. Management's use of Retained Earnings (Return on Retained Earnings) - PASS | |||||||||||
Buffett likes to see if management has spent retained earnings in a way that benefits shareholders. To determine this, Buffett calculates the ratio of the total gain in EPS over the past 5 years of 192.70 to the total amount of retained earnings over the same period of 1485.70 LEW's management has proven it can earn shareholders a 12.97% return on the earnings they kept. This return is more than acceptable to Buffett. Essentially, management is doing a great job putting the retained earnings to work. | |||||||||||
7. Buying back shares - PASS | |||||||||||
Buffett likes to see falling shares outstanding, which indicates that the company has been repurchasing shares. This indicates that management has been using excess capital to increase shareholder value. LEW's shares outstanding have fallen over the past 5 years from 99,158,000 to 98,057,959, thus passing this criterion. This is a bonus criterion and will not adversely affect the ability of a share to pass the strategy as a whole if it is failed. | |||||||||||
The preceding concludes Buffett's qualitative analysis. If and when he gets positive responses to all the above criteria, he would then proceed with a price analysis. The price analysis will determine whether or not the share should be bought. The following is how he would evaluate LEW quantitatively. | |||||||||||
STAGE 2: Is the expected future return acceptable to buy? | |||||||||||
1. Initial rate of return - PASS | |||||||||||
Buffett compares his type of shares to bonds, and likes to see what a company's initial rate of return is. To calculate the initial rate of return, take the current EPS of 1002.90 and divide it by the current market price of 6300.00. An investor, purchasing LEW, could expect to receive a 15.92% initial rate of return. Furthermore, he or she could expect the rate to increase 10.42% per year, based on the product of the average retention ratio and average ROE of the company. Currently, the long-term risk free rate is about 8.00%. Compare this with LEW's initial yield of 15.92%, which will expand at an annual rate of 10.42%. The company is the better choice, as the initial rate of return is close to or above the risk free rate and is expanding. | |||||||||||
2. Expected return based on Average ROE method - No Pass Fail | |||||||||||
LEW currently has a book value of 4,828.00. If LEW can preserve its average rate of return on equity of 20.41% and continues to retain 51.06% of its earnings, it will be able to sustain an earnings growth rate of 10.42% and it will have a book value of 13,009.41 in ten years. If it can still earn 20.41% on equity in ten years, then expected EPS will be 2,655.00. Now use the expected future EPS of 2,655.00 and multiply it by a conservative P/E ratio (one half standard deviation below the long term mean), which is 7.94 and you get LEW's projected future share price of 21,067.95. Now add in the total expected dividend pool to be paid over the next ten years, which is 8,659.14. This gives you a total RAND amount of 29,727.09. These numbers indicate that one could expect to make a 16.78% average annual return on LEW's share at the present time. Buffett would consider this an exceptional return. | |||||||||||
3. Expected return based on Average EPS method - No Pass Fail | |||||||||||
Using the last EPS of 882.50, and the EPS growth of 12.28%, the projected EPS in ten years is 2,810.28. Now multiply the EPS in 10 years by a conservative P/E ratio (one half standard deviation below the long term mean), which is 7.94. This equals the future share price of 22,300.11. Add in the total expected dividend pool of 8,626.29 to get a total RAND amount of 30,926.40. Using this, the investor can calculate the expected return based on a current price of 6,300.00 and the future expected share price, including the dividend pool, of 30,926.40. Investing in LEW at this time, could yield a 17.25% average annual return on your money. Buffett would consider this an exceptional return. | |||||||||||
4. The range of expected return - PASS | |||||||||||
Based on the two different methods, you could expect an annual compounding rate of return somewhere between 16.78% and 17.25%. Therefore, investors could expect an average return of 17.02% on LEW shares for the next ten years, based on the current fundamentals. Buffett would consider this an exceptional return, thus passing the criterion. | |||||||||||
Detailed Financial and Ratio Analysis | |||||||||||
Year | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | |
Income Statement | |||||||||||
Revenue | 2,038 | 2,275 | 2,511 | 2,875 | 3,324 | 3,596 | 3,807 | 4,111 | 4,578 | 4,857 | |
Cost of Sales | 814 | 920 | 885 | 1,021 | 1,194 | 1,272 | 1,318 | 1,331 | 1,459 | 1,446 | |
Gross Profit | 1,224 | 400 | 467 | 547 | 615 | 618 | 2,489 | 2,780 | 3,119 | 3,411 | |
OPEX | 761 | 850 | 1,044 | 1,184 | 1,270 | 1,394 | 1,657 | 1,873 | 2,067 | 2,272 | |
Operating Income | 429 | 506 | 583 | 670 | 860 | 930 | 832 | 907 | 1,053 | 1,139 | |
EBIT | 503 | 580 | 657 | 734 | 942 | 1,043 | 879 | 953 | 1,100 | 1,188 | |
Inc Bef Tax | 360 | 399 | 577 | 686 | 890 | 945 | 823 | 864 | 1,043 | 1,168 | |
Tax | 360 | 399 | 577 | 686 | 890 | 945 | 823 | 864 | 1,043 | 1,168 | |
Inc Aft Tax | 252 | 287 | 395 | 449 | 598 | 642 | 561 | 591 | 712 | 801 | |
Att Inc | 252 | 287 | 395 | 449 | 598 | 642 | 561 | 591 | 712 | 801 | |
Earnings per Share | 252.10 | 287.30 | 395.20 | 461.20 | 649.90 | 717.00 | 636.22 | 672.00 | 807.20 | 905.00 | |
Distributions per Share | - | 135.00 | 225.00 | 266.00 | 323.00 | 323.00 | 323.00 | 363.00 | 442.00 | ||
Balance Sheet | |||||||||||
Total Fixed Assets | 290 | 257 | 609 | 731 | 747 | 706 | 760 | 980 | 1,156 | 1,333 | |
Tot Curr Ass | 2,257 | 2,563 | 2,067 | 2,249 | 2,653 | 3,102 | 3,375 | 3,878 | 4,416 | 4,797 | |
Total Assets | 2,547 | 2,820 | 2,676 | 2,980 | 3,400 | 3,808 | 4,136 | 4,858 | 5,572 | 6,130 | |
Total SH Int | 1,154 | 1,310 | 2,060 | 2,305 | 2,527 | 2,730 | 2,900 | 3,274 | 3,728 | 4,275 | |
Equity Calc | 1,154 | 1,310 | 2,060 | 2,305 | 2,527 | 2,730 | 2,900 | 3,274 | 3,728 | 4,275 | |
LT Liabilities | 1,162 | 748 | 86 | 98 | 93 | 72 | 192 | 487 | 544 | 825 | |
Tot Curr Liab | 231 | 762 | 530 | 577 | 780 | 1,006 | 1,044 | 1,098 | 1,299 | 1,031 | |
Total Liabil | 1,393 | 1,510 | 616 | 675 | 873 | 1,078 | 1,235 | 1,584 | 1,844 | 1,856 | |
Total Eqt/Liab | 2,547 | 2,820 | 2,676 | 2,980 | 3,400 | 3,808 | 4,136 | 4,858 | 5,572 | 6,130 | |
Ratios | |||||||||||
Oper Profit Mgn | 21.07 | 22.23 | 23.20 | 23.32 | 25.87 | 25.87 | 21.86 | 22.07 | 23.00 | 23.45 | |
Net Profit Mgn | 12.37 | 12.63 | 15.73 | 15.61 | 18.00 | 17.86 | 14.74 | 14.39 | 15.55 | 16.48 | |
ROCE | 10.89 | 13.96 | 18.40 | 18.67 | 22.83 | 22.92 | 18.15 | 15.73 | 16.66 | 15.70 | |
ROE | 21.86 | 21.93 | 19.17 | 19.46 | 23.67 | 23.53 | 19.35 | 18.07 | 19.10 | 18.73 | |
ROA | 12.27 | 14.12 | 21.58 | 23.03 | 26.18 | 24.82 | 19.89 | 17.77 | 18.71 | 19.05 | |
Debt to Equity ratio | 1.04 | 0.57 | 0.13 | 0.10 | 0.21 | 0.28 | 0.29 | 0.34 | 0.33 | 0.29 | |
Total Tangible Assets to Total Assets | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Total Assets to Book Value | 2.21 | 2.15 | 1.30 | 1.29 | 1.35 | 1.39 | 1.43 | 1.48 | 1.49 | 1.43 | |
Debt to FCF | 3.33 | 0.76 | 1.36 | 0.59 | 5.55 | 4.56 | 2.11 | 5.87 | 4.06 | 3.18 | |
Balance Sheet Accrual ratio | 2.93% | -28.22% | 29.58% | 10.00% | 18.29% | 13.57% | 6.03% | 14.93% | 12.50% | 10.81% | |
Cash Flow Accrual ratio | -3379.71% | -19584.32% | -4645.84% | -13735.01% | -5470.22% | -5010.39% | -8167.09% | -1773.54% | -4258.97% | -6562.57% | |
EV/FCF | 3.26 | 0.38 | 19.60 | 17.79 | 81.48 | 29.08 | 13.12 | 37.63 | 29.68 | 23.82 | |
CROIC | 14.11% | 53.47% | 8.42% | 14.84% | 3.42% | 5.95% | 12.14% | 4.59% | 6.60% | 7.02% | |
FCF/Sales | 0.16 | 0.42 | 0.07 | 0.12 | 0.03 | 0.05 | 0.10 | 0.04 | 0.06 | 0.07 | |
Altman Z''-Score | 11.71 | 10.76 | 13.71 | 13.94 | 13.66 | 13.39 | 10.77 | 10.43 | 12.32 | 13.02 | |
BRE based on Z''-Score | AAA | AAA | AAA | AAA | AAA | AAA | AAA | AAA | AAA | AAA | |
Share Data | |||||||||||
Number of Shares | 100,000,000 | 100,000,000 | 100,000,000 | 100,000,000 | 100,000,000 | 99,158,000 | 98,058,000 | 98,058,000 | 98,058,000 | 98,057,959 | |
Wght Number of Shares | 100,000,000 | 100,000,000 | 100,000,000 | 97,300,000 | 92,062,000 | 89,583,000 | 88,209,000 | 88,002,000 | 88,194,000 | 88,463,000 | |
Market Cap | - | 3,351,000 | 6,160,000 | 6,850,000 | 4,154,720 | 4,186,096 | 5,540,277 | 7,305,321 | 7,472,016 | ||
Per Share | |||||||||||
Net Asset Value per Share | 1,153.50 | 1,310.00 | 2,059.60 | 2,425.00 | 2,774.30 | 3,057.60 | 3,302.60 | 3,718.80 | 4,225.10 | 4,828.00 | |
Cash Generated per Share | 119.00 | 440.30 | 144.50 | 371.40 | 217.00 | 260.80 | 481.25 | 200.49 | 428.22 | 616.57 | |
P/E | - | 8.59 | 13.26 | 10.61 | 6.07 | 6.77 | 8.79 | 9.54 | 8.63 | ||
P/BV | - | 1.63 | 2.54 | 2.47 | 1.37 | 1.29 | 1.52 | 1.76 | 1.58 | ||
FCFF | |||||||||||
EBITx(1-Tax) | 362 | 389 | 424 | 456 | 607 | 681 | 568 | 621 | 719 | 781 | |
Less: Capex | 46 | 36 | 82 | 38 | 59 | 59 | 71 | 72 | 75 | 82 | |
Plus: Depn & Amort | 34 | 39 | 37 | 35 | 39 | 41 | 47 | 46 | 47 | 49 | |
Less: Delta NC-WC | 23 | (553) | 199 | 97 | 497 | 496 | 169 | 423 | 409 | 390 | |
Free Cash Flow to Firm | 327 | 945 | 181 | 356 | 90 | 167 | 375 | 172 | 282 | 358 | |
WACC | |||||||||||
Weight of Debt | 50.98% | 36.31% | 11.50% | 9.09% | 17.36% | 21.88% | 22.48% | 25.37% | 24.81% | 22.48% | |
Weight of Equity | 49.02% | 63.69% | 88.50% | 90.91% | 82.64% | 78.13% | 77.52% | 74.63% | 75.19% | 77.52% | |
Cost of Debt (pre-tax) | 14.75% | 13.50% | 8.70% | 8.10% | 8.10% | 8.10% | 8.70% | 9.50% | 8.70% | 8.10% | |
Cost of Debt (post-tax) | 10.33% | 9.71% | 5.96% | 5.29% | 5.44% | 5.50% | 5.94% | 6.51% | 5.94% | 5.55% | |
Beta | - | 0.69 | 0.50 | 0.48 | 0.44 | 0.50 | |||||
Cost of Equity | 20.25% | 20.25% | 20.25% | 20.25% | 7.50% | 16.30% | 13.88% | 13.62% | 13.11% | 13.88% | |
WACC (from D/E ratio) | 15.19% | 16.42% | 18.61% | 18.89% | 7.14% | 13.94% | 12.09% | 11.82% | 11.33% | 12.00% | |
Value Creation/Destruction | Destroying | Destroying | Destroying | Destroying | Adding | Adding | Adding | Adding | Adding | Adding | |
Enterprise Value | |||||||||||
Market Value of Equity | - | - | 3,351 | 6,160 | 6,850 | 4,155 | 4,186 | 5,540 | 7,305 | 7,472 | |
Market Value of Debt | 1,087 | 720 | 246 | 211 | 498 | 761 | 791 | 1,012 | 1,143 | 1,138 | |
Cash & Investments | 21 | 359 | 55 | 28 | 36 | 67 | 55 | 62 | 84 | 78 | |
Enterprise Value | 1,066 | 361 | 3,542 | 6,343 | 7,312 | 4,849 | 4,922 | 6,490 | 8,364 | 8,532 | |
Previous Model Portfolios
10 Share Model Portfolio at 30 May 2013
Myles Rennie's Buffett Analysis on 30 May 2013
Ticker | Company | Interest | Buffett Score | Price | Exp Avg Ret | Mark Cap | P/E | Mean P/E | Yield % | EPS %CAGR |
LEW | Lewis Group Ltd | 2/3 | 96.30% | 6,300.00 | 20.33% | 6,177,651,417 | 6.28 | 9.01 | 15.92% | 6.35% |
SPP | The Spar Group Ltd | 1/3 | 96.15% | 11,600.00 | 17.33% | 19,995,813,664 | 17.77 | 17.09 | 5.63% | 11.02% |
DSY | Discovery Ltd | 1/3 | 92.59% | 8,025.00 | 14.41% | 47,497,759,298 | 19.05 | 18.24 | 5.25% | 22.21% |
HWN | Howden Africa Hldgs Ltd | 1/3 | 92.31% | 3,451.00 | 41.77% | 2,268,307,790 | 14.13 | 10.57 | 7.07% | 27.39% |
KIO | Kumba Iron Ore Ltd | 1/3 | 92.31% | 50,800.00 | 38.24% | 163,605,780,992 | 13.38 | 16.29 | 7.47% | 13.33% |
TRU | Truworths Int Ltd | 1/3 | 92.31% | 9,136.00 | 14.45% | 38,736,640,000 | 15.74 | 13.97 | 6.35% | 15.54% |
SHP | Shoprite Holdings Ltd | 1/3 | 92.31% | 17,305.00 | 12.19% | 92,606,494,073 | 26.95 | 17.53 | 3.71% | 18.30% |
CSB | Cashbuild Ltd | 1/3 | 88.89% | 11,491.00 | 23.65% | 2,894,561,182 | 9.20 | 12.53 | 10.87% | 15.33% |
ASR | Assore Ltd | 2/3 | 88.46% | 35,600.00 | 37.28% | 49,700,092,000 | 13.33 | 10.74 | 7.50% | 11.55% |
CPL | Capital Property Fund | 2/3 | 88.46% | 1,059.00 | 20.38% | - | 9.71 | 9.30 | 10.30% | 25.04% |
10 Share Model Portfolio at 30 April 2013
Myles Rennie's Buffett Analysis on 30 April 2013
Ticker | Company | Interest | Buffett Score | Price | Exp Avg Ret | Mark Cap | P/E | Mean P/E | Yield % | EPS %CAGR |
LEW | Lewis Group Ltd | 2/3 | 96.30% | 5,900.00 | 21.92% | 5,785,419,581 | 6.39 | 9.01 | 15.64% | 6.35% |
ISA | ISA Holdings Limited | 1/3 | 96.30% | 48.00 | 14.47% | 88,128,000 | 7.16 | 8.49 | 13.96% | 8.78% |
KIO | Kumba Iron Ore Ltd | 1/3 | 96.15% | 47,328.00 | 39.14% | 152,423,905,567 | 12.46 | 16.29 | 8.02% | 13.33% |
SPP | The Spar Group Ltd | 1/3 | 96.15% | 11,850.00 | 16.83% | 20,426,757,924 | 19.23 | 17.09 | 5.20% | 11.02% |
TRU | Truworths Int Ltd | 1/3 | 96.15% | 8,919.00 | 15.00% | 37,816,560,000 | 15.37 | 13.97 | 6.51% | 15.54% |
DSY | Discovery Ltd | 1/3 | 92.59% | 8,174.00 | 13.99% | 48,379,649,159 | 19.40 | 18.24 | 5.15% | 22.21% |
HWN | Howden Africa Hldgs Ltd | 1/3 | 92.31% | 3,250.00 | 42.57% | 2,136,192,500 | 13.31 | 10.57 | 7.51% | 27.39% |
ASR | Assore Ltd | 2/3 | 92.31% | 29,200.00 | 39.79% | 40,765,244,000 | 10.94 | 10.74 | 9.14% | 11.55% |
MTN | MTN Group Ltd | 1/3 | 92.31% | 16,178.00 | 13.21% | 300,103,582,027 | 14.85 | 20.12 | 6.73% | 6.82% |
SHP | Shoprite Holdings Ltd | 1/3 | 92.31% | 17,009.00 | 12.58% | 91,022,470,829 | 26.49 | 17.53 | 3.78% | 18.30% |
10 Share Model Portfolio at 29 March 2013
Myles Rennie's Buffett Analysis on 29 March 2013
Ticker | Company | Interest | Buffett Score | Price | Exp Avg Ret | Mark Cap | P/E | Mean P/E | Yield % | EPS %CAGR |
LEW | Lewis Group Ltd | 2/3 | 96.30% | 6,463.00 | 19.72% | 6,337,485,890 | 7.00 | 9.01 | 14.28% | 6.35% |
SPP | The Spar Group Ltd | 1/3 | 96.15% | 11,367.00 | 17.80% | 19,594,173,614 | 18.44 | 17.09 | 5.42% | 11.02% |
DSY | Discovery Ltd | 1/3 | 92.59% | 7,824.00 | 15.00% | 46,308,095,794 | 18.57 | 18.24 | 5.38% | 22.21% |
HWN | Howden Africa Hldgs Ltd | 1/3 | 92.31% | 3,100.00 | 43.22% | 2,037,599,000 | 12.70 | 10.57 | 7.88% | 27.39% |
ASR | Assore Ltd | 2/3 | 92.31% | 31,055.00 | 39.00% | 43,354,953,850 | 11.63 | 10.74 | 8.60% | 11.55% |
KIO | Kumba Iron Ore Ltd | 1/3 | 92.31% | 49,197.00 | 38.65% | 158,443,181,249 | 12.96 | 16.29 | 7.72% | 13.33% |
TRU | Truworths Int Ltd | 1/3 | 92.31% | 9,017.00 | 14.75% | 38,232,080,000 | 15.54 | 13.97 | 6.44% | 15.54% |
MTN | MTN Group Ltd | 1/3 | 92.31% | 16,148.00 | 13.25% | 299,547,078,908 | 14.83 | 20.12 | 6.74% | 6.82% |
CSB | Cashbuild Ltd | 1/3 | 88.89% | 12,520.00 | 21.54% | 3,153,764,337 | 10.02 | 12.53 | 9.98% | 15.33% |
CPL | Capital Property Fund | 2/3 | 88.46% | 1,115.00 | 19.15% | - | 10.22 | 9.30 | 9.78% | 25.04% |