Learning from Tycoons, Mike Ferrer, Stock thoughts: EDC, AT, MER, VITA

Learning from Tycoons

A good On the Money Episode:



Mike Ferrer

A new column written by Mike Ferrer:

Invisible hand

If there is somebody worth the trouble of subscribing to Businessworld online, it would be Mike Ferrer. He is the president and managing director of ATR KimEng Asset Management.  🙂


P. 2/S3 or p. 22 of the .pdf file.



EDC 2012 core net income* increased by 89%.


The reported net income of 9.89 B is only 6% higher than my estimated earnings. EPS to be reported will more likely to be at the same level as presented in the stock report below.

More on EDC:


*Core net income means net income excluding one-time gains or losses.



AT core income up by 46%.


P2.5B reported income is close to my projected earnings of P2.6B. EPS to be reported will more likely to be at the same level as presented in the stock report below.

More on AT:




MER reported consolidated core net income of 17B 7% lower of my projected 18B net income.


See stock report:



MER’s dividend policy should come as no surprise. MPI, the majority shareholder, is in need of cash flows. Where do you think they should source additional cash?



You might be interested in this case study:




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