by Erik Kobayashi-Solomon | Mar 8, 2018 | Research
This morning, Cigna CI announced that it will acquire the equity of Prescription Benefits Manager (PBM) Express Scripts ESRX for $52 billion – $54 billion in a combined cash and…
by Erik Kobayashi-Solomon | Mar 8, 2018 | Research
Executive Summary The share price of US grocery giant, Kroger, is down sharply this morning on a disappointing earnings announcement. Reported Cash From Operations was negatively affected by the payment…
by Erik Kobayashi-Solomon | Mar 8, 2018 | Research
In a Framework Forum post the other day, Carey C. mentioned IBM as a possible bond replacement investment. Big Blue published its annual report for 2017 at the end of…
by Erik Kobayashi-Solomon | Mar 2, 2018 | Research
Holding GE over the last few months, there have been plenty of reasons not to be overjoyed when the firm makes a new announcement. Last week, the firm announced that…
by Erik Kobayashi-Solomon | Mar 1, 2018 | Research
Last weekend, two items were published that immediately jumped to the front of my reading list: Buffett’s 2017 Shareholder Letter and GE’s 2017 Annual Report. I’ve been working through the…
by Erik Kobayashi-Solomon | Feb 24, 2018 | Research
After a tough 2017 in terms of returns, several of Framework’s long-time readers are asking the sensible question “What good is Framework’s methodology?” Specifically, one member wrote in asking about…
