Jerome Dodson's Parnassus Funds Comments on Thomson Reuters
- By Holly LaFon
Thomson Reuters ( NYSE:TRI ) provides information and data for professionals in the legal, tax, accounting and financial sectors. The stock generated a total return of 14.3% and contributed 79 basis points to the Fund's performance. The shares declined at the beginning of the year, as investors were initially disappointed by the company's decision to sell a 55% interest in its financial segment to Blackstone. We added to our position on the weakness, because the sale allows Thomson Reuters to focus on its higher-growth and higher-margin segments. Investors eventually came around to our perspective and the stock rebounded, then continued to move higher as revenue growth in its legal segment accelerated.
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The intrinsic value of TRI
From Jerome Dodson (Trades, Portfolio)'s Parnass Funds' fourth-quarter 2018 shareholder letter.
This article first appeared on GuruFocus.
Warning! GuruFocus has detected 8 Warning Sign with TRI. Click here to check it out.
The intrinsic value of TRI