Core Viewpoint - The iShares Russell Top 200 ETF (IWL) is presented as a viable alternative to the iShares Core, suggesting potential investment opportunities in large-cap equities [1]. Group 1: Investment Strategy - The analyst emphasizes the importance of identifying underpriced equities with strong upside potential while also recognizing overappreciated companies with inflated valuations [1]. - A focus on the energy sector, including oil & gas supermajors and exploration & production companies, is highlighted, along with coverage of various other industries such as mining and chemicals [1]. - The analyst advocates for a thorough assessment of Free Cash Flow and Return on Capital to gain deeper insights into investment opportunities [1]. Group 2: Market Analysis - The analyst acknowledges that while some growth stocks may deserve premium valuations, it is crucial for investors to investigate whether the market's current opinions are justified [1].

Core Viewpoint - The iShares Russell Top 200 ETF (IWL) is presented as a viable alternative to the iShares Core, suggesting potential investment opportunities in large-cap equities [1] Group 1: Investment Strategy - The analyst emphasizes the importance of identifying underpriced equities with strong upside potential while also recognizing overappreciated companies with inflated valuations [1] - A focus on the energy sector, including oil & gas supermajors and exploration & production companies, is highlighted, alongside coverage of various other industries such as mining and chemicals [1] - The analyst advocates for a thorough assessment of Free Cash Flow and Return on Capital to gain deeper insights into investment opportunities [1] Group 2: Market Perspective - The belief that some growth stocks warrant their premium valuations is acknowledged, indicating a nuanced approach to evaluating market opinions [1]

Westlake Corporation is a leading global manufacturer in the specialty chemicals sector, operating at scale with 15,540 employees and a diverse portfolio spanning performance materials and building products. The company leverages vertical integration and broad end-market exposure to drive operational efficiency and market resilience. Strategic focus on essential materials and infrastructure products positions Westlake to serve a wide range of industries, including construction, packaging, automotive, and he ...

Financial Performance - Q2 record revenue reached $1.91 billion, a 3.5% increase from the previous year[6] - Adjusted EBIT decreased by 11.2% year-over-year to $226.6 million[6] - Adjusted EPS decreased by 13.7% year-over-year to $1.20[6] - Cash flow from operations was $345.7 million, up $66.3 million from prior year[34] Sales Analysis - Organic sales experienced a 0.5% decline, while acquisitions contributed a 3.4% increase and foreign exchange provided a 0.6% tailwind[12] - North America accounted for 76% of total sales, with a 1.9% increase[14] - Europe experienced a 13.9% sales growth, representing 16% of total sales[14] - Asia/Pacific sales decreased by 3.5%, accounting for 2% of total sales[14] Segment Performance - Construction Products Group (CPG) sales increased by 2.4% to $737.4 million, with a 10.9% decrease in Adjusted EBIT[19] - Performance Coatings Group (PCG) sales increased by 4.4% to $533.8 million, with Adjusted EBIT decreasing by 0.3%[24] - Consumer Group sales increased by 4.1% to $638.7 million, with Adjusted EBIT decreasing by 6.2%[29] Outlook - The company anticipates mid-single-digit sales growth and mid-single-digit to high-single-digit Adjusted EBIT growth for Q3 2026[38] - For Q4 2026, the company projects mid-single-digit sales growth and low-single-digit to high-single-digit Adjusted EBIT growth[41]

Key Takeaways BASF launched a 1-million-ton ethylene steam cracker at its Zhanjiang Verbund site in China. BASF stated that the cracker's main compressors run on renewable energy, advancing sustainable production. BASF will supply downstream units and extend its local value chain to serve China's chemical market. BASF SE (BASFY) has started up its steam cracker at its new Verbund complex in Zhanjiang, China. This marks a key pillar for the company’s multi-billion-euro investment in China and one of the larg ...

Asian shares ended mixed on Thursday amid escalating China-Japan tensions and ahead of key U.S. jobs data due this week that could influence the Federal Reserve's rate trajectory. Oil ticked higher in Asian trade after the U.S. said it plans to control Venezuela's oil sales 'indefinitely'. Gold extended overnight losses, pressured by a firm dollar. China's Shanghai Composite index finished marginally lower at 4,082.98 after a choppy session. Hong Kong's Hang Seng index declined 1.17 percent to 26,149.31, d ...

Group 1 - The article discusses the investment strategies of Vasily Zyryanov, focusing on identifying underpriced equities with strong upside potential and overappreciated companies with inflated valuations [1] - Zyryanov emphasizes the importance of analyzing Free Cash Flow and Return on Capital in addition to profit and sales analysis to gain deeper insights into investments [1] - The research covers a wide range of industries, particularly the energy sector, including oil & gas supermajors, mid-cap, and small-cap exploration & production companies, as well as oilfield services firms [1] Group 2 - Zyryanov acknowledges that while he favors underappreciated and misunderstood equities, some growth stocks may justifiably have premium valuations [1] - The primary goal for investors is to investigate whether the market's current opinion on a stock is accurate or not [1]

This Week’s Deep-Value LandscapeThis week’s Acquirer’s Multiple® Large-Cap Screen reinforces a persistent and increasingly concentrated theme: extreme value continues to cluster in cash-rich Financials and select Industrials and Cyclicals, while Communication Services and Technology-linked businesses quietly enter the deep-value conversation.Despite resilient operating income and aggressive capital returns, the market continues to price many large-cap businesses as though current cash flows are unsustainabl ...

We last wrote about Future Fuel Corp. ( FF ) in October 2024, when we maintained our bullish stance on the Biofuels and Chemicals-related outfit. As outlined in previous commentary, the company's generous dividend (which, in real terms, was significantlyIndividual investor with a keen interest in deriving income from investment setups. We do this by buying undervalued profitable stocks with strong balance sheets & minimal debt. Furthermore, when the opportunity arises, we like to write calls against our pos ...

Core Viewpoint - International value stocks have underperformed US counterparts for over a decade, but the recent 47% surge of the Dimensional International Value ETF (DFIV) raises questions about whether this represents a genuine rotation or a temporary reversal [1][6]. Group 1: Fund Overview - DFIV provides exposure to undervalued companies in developed markets outside the US, using an active, research-driven approach to identify stocks trading below intrinsic value [2]. - The fund emphasizes strong profitability metrics and systematically tilts toward value characteristics, financial health indicators, and smaller market capitalizations, differentiating it from passive international funds [2]. - DFIV combines potential revaluation of underpriced stocks with a current dividend yield near 3%, delivering meaningful cash flow alongside capital appreciation potential [3]. Group 2: Performance Analysis - DFIV gained 47% over the past year, significantly outperforming the S&P 500's 16% and the iShares MSCI EAFE ETF by approximately 14 percentage points, while surpassing US value strategies by over 30 percentage points [6]. - This performance validates the international value thesis but complicates decisions for new investors, as much of the gain reflects a catch-up after years of underperformance [7]. Group 3: Portfolio Composition - Top holdings include European energy giants like Shell and TotalEnergies, financial institutions such as Banco Santander and HSBC, and Japanese industrials like Toyota, indicating a portfolio heavily weighted toward sectors trading at depressed valuations [4]. - The portfolio is concentrated in European financials and energy companies, which are vulnerable to regional economic slowdowns, regulatory pressures, and commodity price swings [9]. Group 4: Investment Considerations - DFIV is not suitable for short-term traders or those seeking growth characteristics, as it focuses on mature, often undervalued businesses and has a quarterly dividend structure [10]. - For broader international exposure without a value tilt, the Vanguard Total International Stock ETF (VXUS) offers a compelling alternative, charging lower fees and providing exposure to both value and growth stocks across developed and emerging markets [11].