Some links

Unintended consequences: Ride hailing apps seem to increase inner city traffic

The “Old” valuation ratios don’t work that well anymore

Quant Investing is now a thing in Venture Capital, at least at Google

Seth Godin with a good list of books worth reading

Great piece from VC investor Fred Wilson on “investment pace”

Forager defines its own “investment edge”

Y Combinator’s Summer 2018 book list

Edit: Don’t miss the 2018 half year report from the TGV Truffle fund

2 comments

  • sfsd@dsadsa.com

    Just Group PLC has dropped 20% since Forager recommended it 2 months ago as one of their best ideas for the year. It is perhaps time to look at it?

    • sfsd@dsadsa.com

      From Forager’s May 2018 Monthly update:

      UK annuities provider Just Group (LSE:JUST) started 2018
      in good form. The company sold £454m worth of annuity
      products in the first quarter, an increase of 43% on the same
      period last year. Sales of bulk solutions to corporate customers
      drove the increase and these are lumpy in nature. But retail
      sales were also up an encouraging 8%. Growth requires
      capital in this business and Just’s current share price doesn’t
      warrant shareholders tipping in more, so its growth will be
      constrained. But constrained growth means better margins,
      with management suggesting they are now “in a position to
      price even more selectively over the balance of the year.”
      In the wake of the encouraging announcement, private equity
      group Permira disposed of its remaining 17% stake in Just.
      That removes the last of the private equity holdings in the
      company, which we recently suggested could be keeping a lid
      on the share price. Whether the share price now rises or not,
      we are extremely happy with the company’s progress and
      the prospects of a rising stream of dividends. The Fund has
      recently added to what was already its largest investment.

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