More of the Good: IBM

Wie erwartet hat sich das U.S. Wachstum weiter verlangsamt und betrug im zweiten Quartal nur noch magere 0,2 %. Erwartet wurde ein GDP-Wachstum von 1 %. Dies bestärkt meine Entscheidung CSX aufgrund der hohen Bewertung verkauft zu haben. Die Erlöse aus dem Verkauf der CSX Aktien wurden für eine Aufstockung meiner IBM Position zu USD 170 pro Aktie verwendet. Mehr Kapital in IBM zu investieren war aufgrund der günstigen Bewertung und hoffnungsvoller Quartalszahlen ein logischer Schritt. Zum ersten mal seit Beginn der Unternehmenstransformation konnte IBM konstante Umsätze, nach Anpassung an FOREX und Veräußerungen vorlegen. Folgende Quartale sollten diesen Trend bestätigen und IBM 2016 eine Rückkehr zu Umsatzwachstum in absoluten Zahlen ermöglichen. Dies sollte IBM zu einer dem Industrievergleich angemesseneren Bewertung führen.
In einem teuren Markt, stellt IBM daher eine sehr günstige Investitions-möglichkeit mit geringem Verlustrisiko und attraktivem Gewinnpotential dar.

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6 thoughts on “More of the Good: IBM

  1. Philip,

    Great job adding to IBM! I wish I had initiated a larger position last year when the stock was trading in the low $150s. The quarterly result and massive dividend increase definitely put this stock back on everyone’s radar.

    Keep it up,
    NMW

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    1. Hey NMW!

      Awesome progress over there!
      I also regret that I haven´t added more to IBM when it was trading in the 150s. But still I love what I am getting at around 170. However, I am a little concerned about what currency could to my investments (not just IBM).
      For private investors with only little capital at hand it is just too expensive to hedge out FOREX. Have you considered hedging FOREX exposure?

      Best wishes!

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      1. Philip,

        Don’t worry too much about exchange rate issues. Over the long-term they hardly matter even though they could surpress your dividend income and/or stock prices for the time being.

        I’ve written an extensive post on the issue with the point of views from many other DGIs in the comment section. You might want to check it out: http://www.nomorewaffles.com/2015/01/do-you-need-to-hedge-against-exchange-rate-fluctuations/.

        Have a great day,
        NMW

        Liked by 1 person

      2. I guess you are right, when you are consistently purchasing stocks regardless of exchange rates and across various currencies. A broad equally weighted portfolio of currencies should average out. I try to achieve that over time but currently I am struggling to find cheap stocks in the euro area, especially because I cannot find screeners and accessible research for most of the companies. A seeking-alpha equivalent would be needed badly around here 😉 Let me know if you want to set one up together. haha.

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  2. I know that IBM among other tech names have been quite popular among the dividend bloggers but for my long term investing needs I do not want any exposure to tech. It’s a sector that is too volatile for my liking. I much prefer the stability of consumer staples. Thanks for sharing.

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    1. I am not in this for the dividend. I will reassess the investment as soon as IBM reaches a level close to USD 230.
      Consumer staples are also on my list, however they are way too expensive right now for my taste. The only one that I am watching right now is Kellogg, which seems to be reasonably priced.

      Nice progress over there and thanks for stopping by !

      Like

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