Some Links

Highly recommended: First Quarterly report of the new “Profitlich-Schmidlin” fund with short summaries of all positions (in German). Interesting portfolio and interesting strategy. Good luck !!

Short write up on Aggreko, an interesting UK company

Great story how stock picking legend Julian Robertson seemed to have lost it in 1996

Old School Value with a short thesis on Weight Watchers, a favourite among many value blogger. For a long thesis for instance look here.

Mebane Faber has developed a new ETF which invests into the 10 cheapest countries globally

Conference notes from the 2014 Value Investing congress in Las Vegas can be found here. As always, Zeke Ashton’s case looks interesting, although his BMW pitch looks pretty similar to that one from RV Capital a few months ago.

For all those who are desperately waiting for the next crash: A short overview of 240 years of financial crisis


  • “Weight Watchers, a favourite among many value blogger.”

    Versteh ich nicht so ganz. Die bräuchten Jahre um ihre Schulden abzubezahlen. Dazu kann sich inzw. jeder irgendeine App installieren für “Punkte” bzw. Kalorien.

    “Interesting portfolio and interesting strategy”

    Bei Evonik wird m.W. die nächsten Jahre kräftig investiert. Das war es dann mit netter Bilanz. Und man hat das Risiko eine zweite Krupp zu haben. Was daran opportunistisch sein soll, versteh ich nicht so ganz. Interessant bewertet sind sie sicherlich, aber das Geld ausgeben am Höhepunkt halte ich für riskant.

    Die Strategie aus Small/Mid Caps und riskanten Anleihen sollte eigentlich zwischen Juni 2009 und August 2013 mehr abgeworfen haben als die 100% Nachsteuer von dem LIPS-Börsenclub (oder was auch immer es genau ist/war).

    Dein Norwegen-Wert Ekornes hatten sie m.W. auch im Depot.

  • Thank you for these links to interesting information.

  • Thanks for yet another set of refreshing links..

  • It’s interesting to see what happened to the Tiger Hedge Fund after the linked story was published by Business Week. According to Wikipedia, the fund’s assets were 7.2 billion USD in 1996 and 22 billion USD in 1998. However, the fund closed in March 2000.

  • Huitzilopochtli

    I do not get the last item:
    “For all those who are desperately waiting for the next crash: A short overview of 240 years of financial crisis”
    Is this some kind of elaborate parable? or did you just forget the link?

  • Bestinver ($13bn AUM) has been constantly investing near 10% AUM in BMW Prefs since 2006, with a 2015 PT of 120EUR. I leave you the investment case in an interview with the CIO.'s%20fund%20managers.pdf

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