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
value and opportunity 
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?
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.