A quick look at the week ahead
We have a little bit of a busy week thanks to the late decision by the administration to declare Friday a non-working holiday.
Today we should get FY22 earnings reports from Wilcon [WLCON 32.00 1.8%], Meralco [MER 309.20 0.1%], and Metrobank [MBT 58.90 2.2%], and on Tuesday we’ll get earnings reports from SM Investments [SM 900.00 1.1%], Semirara Mining and Power [SCC 30.35 0.2%], Manila Water [MWC 19.80 0.5%], and AREIT Inc. [AREIT 35.80 0.4%].
We are also scheduled to hear from Upson International [UPSON] on Tuesday about the final price of its IPO offering, but it’s possible that we won’t hear about that until Wednesday morning. Then we just kind of wait for the week to end so that we can drown in IPO-related news next week when UPSON and Alternergy [ALTER] take additional major steps toward their listings on March 16 and March 24, respectively.
MB BOTTOM-LINE
Annual report season is great (for me?) because companies (on average) do a much better job of talking about what happened to their business (and why) during a full-year review as compared to the analysis that they might do for a quarterly report.
More time is (usually) taken to give investors context for the company’s gains and losses, and (for me and my strategy) that extra context is valuable to test the assumptions that I’ve used to invest in that stock or others related to it. That said, not every board is made equal, and some will be more forthcoming and transparent than others. I don’t think it’s an accident that I gravitate toward companies with boards that are more open and analytical with investors, and I also don’t think that it’s an accident that most of my longest (and most successful) investments have been with companies that are on the higher-end of the transparency spectrum.
Still, what works for me and my system might not work for you. I don’t recommend simply investing in boards that appear the most transparent, because “transparency” is just one dimension of a company’s potential value proposition. Being transparently bad at business is still just being bad at business!
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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.
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