Some links

Some troubling Figures about loan volumes and credit quality

Prof. Damodaran (again) tries to value Spotify ahead of its IPO

A very nice illustration of the impact of volatility on investment returns

Why Cryptokitties could become something much bigger

Prem Watsa’s 2017 shareholder letter is worth reading

For Mexican stocks, insider trading seems to be normal

“Concierge Brands” can take away a lot of value form “Normal” brands


  • As an aside I have looked at Westaim several times. Might be interesting time to take a look. The stock has done nothing. I can not remember if management is external.

    Sent from my iPhone

  • Thanks for the reading.

    CREDIT ISSUES: the portrayed picture of the credit landscape may be frightening, specially knowing the bubble territory some housing markets are (Canada, Scandinavia,…) … but so has it been for a while… and so far, the party seems to go on ! :-s

    Weakest Link Theory anyhow predicts that once the first element of the fin-chain is broken, the whole fin system will creep. We are since years maybe to much interconnected.

    FAIRFAX: I often forget how over-exposed to equity are N-American companies… compared to European ones…

    Concierge brands and their threat to ‘premium’ brands should definitely be a concern of Terry Smith (he likes so much staples!)

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