Monthly Archives: December 2010

McDonald’s Analysis and Valuation

SUMMARY McDonald’s (MCD) is the world’s largest Quick-Service Restaurant (QSR) as measured by system-wide sales (i.e., sales directly to end consumer).  MCD has twice the sales of Yum! Brands (e.g., KFC, Taco Bell, Pizza Hut), the next closest competitor, while having roughly 5,000 fewer units worldwide.  MCD operates throughout the world but is mainly established … » Continue Reading

Opportunity Knocks

Successful investing is more than just identifying undervalued businesses.  It is also about determining why the business is undervalued to begin with.  Most of the time, you will find that it is due to either uncertainty or overreaction.  And nine times out of ten, that uncertainty or overreaction will be based exclusively on short-term results. … » Continue Reading