Daniel Pronk

"لذا، نعم، أنا مشترٍ لأسهم Brookfield Asset Management هنا. أعتقد أن سعر السهم منخفض جدًا. أعتقد أنه مقوم بأقل من قيمته، وأعتقد أنه مهيأ لتحقيق معدل نمو سنوي مركب جيد جدًا للمستثمرين على مدى السنوات الخمس المقبلة."

"أعتقد أن سعر السهم اليوم يقدم سعرًا جذابًا للغاية، وقد اشتريت المزيد من الأسهم عندما كنت في إيطاليا بالفعل. تمكنت من تسجيل الدخول إلى حسابي في Interactive Brokers أثناء وجودي في إيطاليا، نعم، قمت بشراء المزيد من أسهم BAM وأنا هناك."

"قمت خلال الأشهر القليلة الماضية بزيادة حصتي بشكل كبير في أسهم بروكفيلد لإدارة الأصول في محفظتي. لذا، سأشارككم ما أفكر فيه بشأن سعر السهم اليوم وما سأفعله بأسهمي أيضًا."

"But I've recently experienced even on my X account where I was talking about Broadcom AVGO stock and I was just bringing up the bear case and people were attacking me."

"And I have a perfect example with Amazon to show you. From 2018 till late 2022, Amazon's share price was down 6%. I remember so many investors were posting on social media at this point saying Amazon was a terrible stock to own because its share price fell recently and it had produced almost no return for the past 5 years."

"So, now let's take a look at another example of the exact opposite scenario by using Construction Partners with the ticker symbol ROAD. ROAD's price-to-earnings ratio was a whopping 78 in February of 2023, which made the stock look extremely expensive. However, ROAD's earnings have gone up 701% since then"

"And this stock is Canadian Solar with the ticker symbol CSIQ. Way back in 2020, I bought Canadian Solar because it had a very low price-to-earnings ratio of only 3.8. At the time, I thought that this was a very low-priced, extremely cheap stock."

"Do you guys think that Nike is worth the bet right now? And the Lululemon as well, since Michael Burry is also buying it? Or are you guys also avoiding it and think that fashion is uninvestable?"

"So, to put it simply, I'm not going to be buying Nike, I'm not going to be buying Lululemon."

"So, to put it simply, I'm not going to be buying Nike, I'm not going to be buying Lululemon."

"This means that investing in Nike is betting on a successful turnaround of the business, which isn't guaranteed to happen. Now, in addition to this, Nike is still trading for about 24 times trailing 12-month earnings when you factor out the one-time tariff benefits. If Nike does execute a successful turnaround and its earnings per share gets back to an all-time high of $3.80, then it's still trading for about 10 times earnings today. But, the business has a lot of work to do before its earnings "

"Its main lifestyle brands, which make up roughly half of the company's revenues, are also struggling and the revenue is consistently declining by double-digit growth rates. This is causing Nike to have to pivot to focusing on its sports brands again and it is trying to make the best sportswear possible and become the premium sportswear brand again."

"So, here are my final thoughts on Nike and really the entire fashion industry. Nike is now a turnaround story, which does feel kind of weird to say, but is also seeing fierce competition that it seems to be losing."

"Nike is probably one of the most iconic brands globally, and even it has now hit a wall and is struggling to continue growing."

"Under Armour also saw tremendous revenue growth for years, but then sales started to stall, and now sales are starting to decline for the business."

"For example, Lululemon is seeing its sales start to decline after 20-plus years of consistent growth."

"but Aritzia is the company that is seeing the strongest continued growth, and it is truly the outlier of the group because many of these brands were actually seeing large decelerations, like Lululemon is right now as well."

"As I just pointed out, online has also seen the most total growth"

"So again, you can clearly see that Nike is coming in last here with the lowest amount of revenue growth and basically no revenue growth over the past about 5 years now."

"and then Adidas with 22.6%."

"Shoe with 47%"

"Deckers with 86%"

"then Lululemon with 89.4%"

"then Aritzia with 202.8% revenue growth"

"On On comes in first with 344% revenue growth"

"And in this chart, we can see that Nike comes in dead last with only 0.2% total revenue growth over the past about 5 years now."

"This means that Nike's competitors are still growing while Nike is struggling too, which does suggest that it is losing market share to its competitors."

"and Aritzia, which isn't a direct competitor, but does still fight in that consumer fashion segment, is up 37.5% year-over-year."

"On On is up 18.5%"

"Deckers is up 7.9%"