Some Links 06/2024
value and opportunity
by memyselfandi007
1w ago
Interesting Microcap-Turnaround idea from Treasury Hunting Substack – Innovation Food Holdings (IVFH) Roland Head looks at Diageo as a potential Dividend stock (Spoiler: not yet) Hong Kong looks even more dead than Germany these days (search result) FTAlphaville on the recent “AI superstar” Super Micro Computer (Search result, Spoiler: No so super duper) A good summary on what we know about long term Private Equity performance (Spoiler: It isn’t special after fees) It seems that retail noise traders (aka “Apes”) have made shorting stocks systematically more dangerous Interesting “post mortem ..read more
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All Belgian Shares Part 2 – Nr. 21-40
value and opportunity
by memyselfandi007
1w ago
And on we go with our random walk through the Belgian Stock market after part 1 in January. This time the random generator selected 20 quite diverse stocks, from which 5 made it onto the preliminary watch ist. One of them is a “sexy stock” in a very special way. Enjoy !!! 21. Immo Moury SCA Immo Moury is a 15 mn EUR market cap real estate company (REIT) that according to TIKR trades at a P/E of 6 and P/Book to 0,57 and has clearly seen better days: They seem to own a mix of commercial, industrial and residential real estate. More than 50% of the company are held by two individuals with the sa ..read more
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Eurokai KGaA (ISIN DE0005706535) – Playing the “Time arbitrage game” with the possibly cheapest Port Stock in the World 
value and opportunity
by memyselfandi007
2w ago
Disclaimer: This is not investment advice. PLEASE DO YOUR OWN RESEARCH !!!! Some reason for not reading this post: You have already posted YTD Performance numbers on FinTwit You don’t like capital intensive stocks You don’t like cyclical stocks You prefer stocks that have positive share price and/or fundamental momentum You require short term catalysts/Share buy backs/activists etc. You like simple businesses with simple structures You think Germany/Italy/Europe is going down the drain anyway In such a case, do yourself and myself a favor and move on. For anyone still reading, please find he ..read more
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Some links 05/2024
value and opportunity
by memyselfandi007
2w ago
Some more fund letters from the TGV family of funds:  - TGV Partners (Software Circle, United Internet, Tucows)  - TGV Compound Interest (EQS Group, Naked Wines)  - TGV Rubicon Stockpicker (United Internet, hgears, Agfa etc.)  - TGV Falkenstein (German, Energiedienst, Energiekontor, Compugroup) Carson Block/Muddy Waters is (once again) short Prem Watsa’s Fairfax Abilitato with a great (German language) write up on German Insulation company Sto Stratechery’s Ben Tompson has been somehow underwhelmed by Apple’s vission pro Davis Einhorn spoke with Barry Ritholz about the “broken market” and othe ..read more
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Some links 04/2024
value and opportunity
by memyselfandi007
1M ago
Highly recommended: Portfolio review from the Wintergem Substack (Dollarama, Mercado Libre, Thermador) GlobalStockPicking has summarized 12 years expierence of stockpicking in Hongkong The Aquired podcast about Novo Nordisk is fantastic Interesting guest post on Emerging Value about a Japanese amsuement park operator David Einhorn had a pretty decent 2023 with Greenlight Prof. Damodaran with some interesting data series and observations on interest rates Walmart is a great example that logistics really matter ..read more
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Some links 3/2024
value and opportunity
by memyselfandi007
1M ago
French Cognac exports are struggling even without Chinese sanctions (Search result) Good write-up on UK stock Andrew Sykes from Wes Chambers The fascinating world of undersea data cables that connect the world Sam Altman says that AI needs much more power than expected Flyover Stocks with a teaser for US insulation player Installed Building Products For Berkshire/Buffett Super Nerds: Capital Allocation: The Financials of a New England Textile Mill (1955-1985) is available for free download An interesting look into the home insurance problems in the “hard to insure” areas in the US ..read more
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All Belgian Shares Part 1 – Nr. 1-20
value and opportunity
by memyselfandi007
1M ago
Hello Belgium, here I am !!! As in my previous series, a random number generator will determine in which order I will look at the roughly 210+ shares. One initial remark on the “Expert Market” Segment: This is a very illiquid segment of stocks that are traded only once a week (Tuesdays) in an Auction. Some stocks haven’t traded for years. Sometimes very little or no information is available for these companies. In this series, I will only take a closer look at those Expert market stocks that have been trading at least once in 2023. The others I will only mention briefly. As the Expert market i ..read more
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Some links 2/2024
value and opportunity
by memyselfandi007
1M ago
More year end letters: – East 72 Dynasty Trust (E-L Financial, PSH) – UK Dividend Investor Carsten from Augustusville with a great write-up on Delek, a US Energy downstream player The One-foot Bars substack has a very nice write-up on Champagne house Laurent Perrier I can’t repeat it often enough: Prof. Damodaran is offering the upcoming Valuation class at Columbia for free. There is no better deal in financial education, guaranteed. Twitter Thread from Dalius with 10 recommended investment blogs 12 pretty good lessons from the stock market in 2023 PE Fund investors really do want their money ..read more
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A very quick Champagne Peer Group Check (Laurent Perrier, Vranken-Pommery, Lanson BCC)
value and opportunity
by memyselfandi007
1M ago
For the new year, one of my todos was to check the other two listed Champagne Houses in France, Vranken-Pommery and Lanson BCC. As I mentioned in the original post, my main motivation to buy Laurent Perrier was that it’s name always showed up when I looked up Gerard Perrier. Using TIKR as a quick comparison tool, one can see, that the two other players; Vranken-Pommery and Lanson-BCC trade at even lower PEs than Laurent Perrier: Financials However, we can also see that the other players are much more indebted that Laurent Perrier. The next table that I have compiled from TIKR numbers shows t ..read more
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Performance review 2023
value and opportunity
by memyselfandi007
1M ago
2023 overview 2023 was a in absolute terms quite good, in relative terms however below benchmark. The Value & Opportunity portfolio gained  14,3 % (including dividends, no taxes, AOC fund as of 30.09.2023) against +16,2% for the Benchmark (Eurostoxx50 (25%), Eurostoxx small 200 (25%), DAX (30%), MDAX (20%), all performance indices including Dividends). Links to previous Performance reviews can be found on the Performance Page of the blog. Some other funds that I follow have performed as follows in 2023: Partners Fund TGV: 19,6% Profitlich/Schmidlin: +23,2% Squad Europea ..read more
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