Hi, another month done, many accomplishments I must share that has happened with our holdings. This is the series I continuously upload that no one asks for… let’s get started.
Now, in a last minute move (not really) by the Fed, Jerome Powell decided to cut rates 25 bps or 0.25% and is also stopping Quantitative tightening or QT. Markets, FLIPPED 2 hours before closing. All indexes fell 1% from their intra-day high in 15 minutes.
But aside from this pull back, the remainder of the month has been phenomenal. This was probably the dip we all needed to buy into, come tomorrow, we’ll hit fresh highs, and markets will continue to climb. He foolishly said.
Last month: July 2019
Earnings for Cintas came out July 17th and it EXPLODED the stock price, moving 9% during the day, pushing this bad boy to my biggest holding. I’ve been preaching Cintas for a while now and will continue preaching Cintas.
Visa, the king of acquisitions and purchases. They invested in Go-Jek. An Indonesian ride hailing company. Big W for Visa as it expands their Southeast Asian market.
Visa reported earnings, beat on revenues, estimates of $5.7B in revenue, with $5.84B actual.
Apple reported earnings, (is it just me or did every company here report earnings?) And needless to say, wearable segment of their business is strong and now makes up for almost a tenth of Apples revenues.
Amex warns investors that they are paying higher costs as they boost their reward programs on their cards and are expanding their selection of cards. However, by introducing new cards, Amex believes that they will offset for the merchant fees they will collect.
Amex acquired Acompay, a payment platform for suppliers and businesses.
Amex also reported earnings, they reported revenues of $10.84B whiles estimates were $10.82B
Bank of America
Okay, now time for square… wait, WHO THE FUCK ARE YOU!? “where is Square Jimmy?” SQUARE IS DEAD TO ME. Comprende? Square launched my net worth back in 2017 and has been held up until now, like, of course I will sell and lessen my position, the damn thing went up 200% since my day of purchase, I’d like to allocate my profits elsewhere. (Also, I’m not hinting that I might do the same with Cintas and Visa soon… but uhhhh… I might do the same to Cintas and Visa soon.) I’ll repurchase again if it ever dips again.
BofA plans to increase their dividend by 20% and increase their buybacks after successfully passing stress tests from the Fed. That would mean they will pay an annual dividend of $0.72 cents a share or $0.18 cents per quarter. In comparison to $0.15 cents a share or $0.60 cents annually. Furthermore, they’ll purchase $30B in buybacks, or 10% shares outstanding.
BofA millennials have a total of $200B in their savings accounts collectively, giving BofA an avenue to introduce the millennial generation other financial services such as wealth management, brokerage, etc. (Ahem, Merrill Edge) This generation makes up for 24% of BofA’s clients and make up 40% of their sales.
Berkshire Hathaway now owns 10% of Bank of America. Hiking his ownership to $29B in BofA shares.
Bank of America reported earnings, revenue estimates were missed by BofA. However, their deposits and loans have increased, and with that, so has their net profit. Beating profit estimates.
Still on the look out for dividends for January, March, June, July, and October. But NOPE HAHAHA WHY PAYS DIVIDENDS AROUND THAT TIME!?
Okay, whatever, I should not worry about income at my age, just focus on growth and good companies.
Up 35.6% with no end in sight he said foolishly.
Portfolio versus S&P
Portfolio since investing
We passed the 100% return not too long, sadly, we’re hovering around 97% or so due to the pullback.