Some links
Why a fish market is not so different from financial markets
The ukvalueinvestor with a short case study on Chemring and the risk of M&A fueled growth
Why you shouldn’t even think about buying Spanish bank stocks (H/T to 2 of my readers, best piece of sell side research I have seen in a decade)
An interesting look at the potential total impact of Electric Vehicles on the economy
Basehit Investing about the really important items in an investment check list
The luxury industry slumps further and how Cartier’s attempt in luxury watches didn’t work out. However better times may lie ahead.
David Merkel eplains why buying stock of an indebted cyclical company is never a good idea, even if Monosh Pabrai and Guy Spier own it (Horsehead)
Finally, check out this relatively new blog GlobalStockPicking. Some pretty good content and interesting (global) stocks in the blog portfolio.
value and opportunity 
The EV discipline sounds very much to whst was 10y ago the ‘renewables business’. Similar ingredients (lots of promises based on technology wishes). Unfortunately my experience there is quite negative. I worked for solar industry and same as ion batteries is very difficult to add marginal advances. Once a technology has been around for years progress in it slows. Maintenance / repair costs of a niche industry may also be unconventional & expensive.
Unless political barriers are defined, I better imagine trad. car industry recovering based on cheap fuel for years rather than EV coming close to fuel-cars. Wish it was the contrary, but…
Thank you for sharing! The Report from Exane is very entertaining. It is quoting Walter White (Breaking Bad), Warren Buffett, Seth Klarmann and has sentances like that:
“The current Ibiza-style fiesta may last for a long time (and investors can make a lot of money dancing to the tune of the centrally planned music) but history will not be kind to central DJs, in our view. ”
” Long-term investors need greater strength of mind than Odysseus (and even he had to
be tied to the mast) to resist the siren’s promises of unlimited riches issuing from the
central banks. ”
Never heard of that guy (Santiago López Díaz) before. Is he some kind of Investment-Guru?
I think not an investment guru but more like a “sell side Spanish Bank” guru. He had Spanish Banks as sell for the last 10 (!!) years.
If I had to choose one skill I’d like to be able to read much faster. That Exane document is really good but I always wonder how people can read that much stuff. They mentioned so many books and reports. It’s impossible for me to read all that stuff besides my ‘normal’ job and family duties. I know speed reading techniques, but somehow it only works for me for texts in my first language (which is not English) and when I have a book in my hands (no screen reading). How do you handle that? You also read a lot…
#Easy,
it is hard to give advice on reading as this is a very personal issue. For me, reading English is the same as German, I guess that comes from practic, 95% of what I read is in English these days. In general, the more interesting something is the faster I can read it. If something doesn’t interest me,. I often stop reading relatively early. It is very cumbersome to finish badly written books or texts.
I do most of my reading early in the morning and during my commute. Also vacation time is great.
thanks great links!
Hi mmi,
Thanks for the interesting reading material!
Thanks for linking to that piece on Chemring. If you’re on Twitter let me know and I’ll cc you in when I tweet your posts.
Great article about EV’s that you linked to, I’m a big believer in this theme and I think they summarized it well. I humbly thank you for linking to my blog, for the ones interested in what companies to read up on in the EV value chain I tried to summarize what I found so far in one of my earlier posts: http://www.globalstockpicking.com/2016/02/29/investments-in-ev-value-chain/
Hey Rob,
really nice blog. Going to work through your posts. Made some money with NetEase, too. I guess it’s a good idea to trim down right now…