Info

Stocks-in-Depth

The Stocks-in-Depth podcast is provided by GARP Research, a provider of institutional equity research reports since 1995. GARP is renown for the granularity of its models and extensive written assessments of competitive threats and vulnerabilities. GARP's investment philosophy is predicated on discovering opportunity through fundamental assessment via intensive modelling, having a wide ranging curiosity about strategic influences, and engaging in person-to-person contact. GARP looks for long-term growth, but it is cognizant of finding value in contrarian situations and wants valuation to be reasonable relative to potential earnings.
RSS Feed
Stocks-in-Depth
2019
January


2018
December
November
October


2017
October
September
January


2016
December
November
October
July
June
May
April
March
February
January


2015
December
November


All Episodes
Archives
Now displaying: May, 2016
May 29, 2016

In Part 1 of this three-part podcast, we start by presenting some background on Central Garden & Pet, and we discuss management changes over the last few years that have affected the company’s strategy.  We draw comparisons in our analysis to other consumer product firms, and discuss management’s ability to achieve acceptable levels of ROI in its two segments.  After this high-level discussion, we take a detailed tour of many of the businesses in its Pet segment, which depending upon the variation of earnings in the problematic Garden segment, we think generally contain about two-thirds of the earnings power of the company.  GARP Research, which is the producer of Stocks-in-Depth, recently published an over 50-page long initiation report on Central Garden & Pet.  In the following two episodes of Stocks in Depth, we will resume with the Aquatics portion within the Pet segment, cover the Garden segment, and then in Part 3 we will devote considerable time to imparting some of our analysis of the competitive dynamics and market sizes for the plethora of businesses in the Pet and Garden segments.

1