value and opportunity

This time, only one out of the ten randomly selected stocks made it onto my watch list.

61. Alpine Select AG

Alpine Select select is 129 mn CHF market cap listed investment company. The name rang a bell and when I searched my own blog, I found them as one of the “co-investors” in the AIRE KgAA special situation in 2012.

Including their significant distributions, Alpine Select has an Ok track record over the last years. The stock trades very close to NAV. Their portfolio these days seems to consist mostly out of hedge funds and even a crypto fund more recently.

This is not exactly my cup of tea, so I’ll “pass”.

62. Elma Electronics AG

Elma is a 146 mn CHF market cap company that manufactures electronic components. The stock chart looks strange: After effectively flat-lining for around 12 years before increasing by ~+50% in 2021: 

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A lot has been written already about the Euro Finals two days ago with England losing (again) the final penalty shoot out. To be honest, I was supporting Italy in the finals because I think the showed the best performance in the tournament overall, with a refreshingly “un-Italian” way of playing attractive offensive football.

I don’t want to repeat what has been written in the English press on who and why has to take the blame for missing the penalties. However I want to focus on what the coach, Gareth Southgate said when he explained the choice and the fact that two of the penalty shooters were just brought into the game at the very last minute.

Personally, I thought at first that it was a pretty bad idea to let players shoot that did not really play in the match but this is what Southgate said:

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