Greenwood Q3 letter on short selling and owner-operated companies
An interesting intro into the fertilizer market including investment opportunities
The 5 favorite books that Bill Gates read in 2021
Annual portfolio update of Bull, Bear & Value including a few interesting Israelian stocks
Great deep dive into payment company Adyen
Q3 letter of Hayden Capital with interesting thoughts on “next Gen” consumer behaviour
WaPo article on how chess is evolving into an E-sports discipline (unfortunately no mentioning of Play Magnus)
Update: Unfortunately the first version of this post contained (too) many spelling errors. I released it too early and somehow spellchecking does not work within the WordPress editor. Apologies.
In my opinion, any investor can learn a lot about any book about financial scandals. Maybe even more compared to most “how to invest” books.
“Billion Dollar Whale” is no exception. This book tells the story of a young Malaysian guy called Jho Low who managed to steal around 5 bn USD from the Malaysian Sovereign Wealth Fund 1MDB.
No bonus this time, only 10 Stocks in this post. Spoiler: none of the 10 stocks went onto the watch list.
Another interesting story that caught my attention is this one: The Swiss Exchange finally opens up to SPAC listings. It’s about time to catch the last wave of this hype. The Swiss seem to be unhappy with the large share of (expensive) quality companies listed right now.
181. Valiant AG
Valiant is a 1,4 bn CHF market cap Bank Holding company. As with all other Swiss banks, the company seems to stagnate since a long time. “pass”.
182. Galenica AG
Galenica is a 3,4 bn CHF market cap company that calls itself the “leading Swiss Healthcae Platform”. The company IPOes in april 2017 and has performed decently since then:
“NegatIve Visualisation” is an interesting exercise for any investor
Roger Lowenstein on US Inflation
A very interesting HBR long read on how NFTs can create Value
Scientists have discovered on how to turn Ammonia into electricity without toxic by products
Some interesting notes on Assytem from France
This week, General Electric, Johnson & Johnson and Toshiba announced to split themselves into smaller entities
Prof. Damodaran with a valuation update on Tesla
As last time, I throw in an extre 5 stocks at no extra cost for my readers (2 candidates to watch) !!! To make it an even more compelling offer, I add this link which explains how German investors can mitigate the 35% withholding tax for Swiss dividends.
166. Walliser Kantonalbank AG
Walliser is one of the many regional banks with a market cap3 of ~1,6 bn CHF. As the other Kantonalbanken, the have a decent dividend (~3,3%) but the stock price is flatlining for many years. “Pass”.
167. Valora AG
Valora is a 775 mn CHF market cap company that is active in food and convenience retailing. If I understand it correctly, they run both, own outlets as well as franchises and have a certain focus on bakery products. 75% of sales are done in Switzerland.
The long term share price looks extremely uninspiring:
David Einhorn’s latest quarterly letter is clearly an expression of his frustration. However I wanted to pick out one passage that blames “ESG Investing” for being responsible for high energy prices: