Monthly Archives: September 2018

Some links

Prof. Damodaran thinks Apple and Amazon are overvalued. Consequently, he sold Apple and is short Amazon.

Three reasonable priced UK stocks with some “special situation” aspects

A nice write-up on Dollarama

Why you shouldn’t follow (or even ignore) sell side analysts

An interesting overview on Emerging Markets

Scott Galloway on retail, Amazon and why “big Tech needs to be broken up”

 

Ben Horrowitz explains Blockchain very easily:

 

 

My personal “GFC” story – 10 lessons hopefully learned

Personal experience 2007-2009 

There are a lot of articles currently about the “Great Financial Crisis” which culminated exactly 10 years ago when Lehman Brothers collapsed on September 15th 2008. There is still a lot of discussion around who is to blame for this, however most of this is nonsense as Barry Ritholz nicely summarized here.

My personal story is relatively short but quite lucky: Due to my “day job” back then, I saw many early warning signs in 2007. Although I had no idea how deep the crisis would be, I got mostly out of the stock market by the end of the year 2007.

This was maybe my only successful timing action I ever managed to do with some success. I even made some decent money with shorting that I had just discovered back then and a was on track to positive performance in 2008 when I was caught in the mother of all short squeezes, the famous “Porsche Volkswagen corner” which cost me more than -10% portfolio performance.

Nevertheless especially the years following the crisis taught me some important lessons which I wanted to share:

My 10 lessons (hopefully) learned

Read more

Some links

Many gaming related companies look cheap

The “no jerks” rule seems to work pretty well in selecting investment managers

Ray Dalio is giving away his new book “Big Debt Crisis” for free on his website

Sports Directs founder Mike Ashley bashes his shareholders (see no jerk rule above)

Smart thoughts from Ben Thompson on the “Iphone franchise”

Buffett quote about businesses and inflation

Why being a Value Investor will often make you look stupid

Some links

Some very good career advise for graduates

A really weird ICO story from FTAplhaville

Did Nike make the “marketing gangster move” of the decade with its Kapernik ad ?

A great in-depth view from Forbes into Amazon and Jeff Bezos

A good reminder: Don’t make (investment) decisions when you are tired

Another good reminder: Emerging Market stocks are really volatile

Want to see Elon Musk smoke a joint ? Watch this and other stuff here:

 

 

SIAS SpA – Collateral damage ?

SIAS is an Italian motorway operator that I bought at the height of the “Euro crisis” in 2012 and sold 2 year later with a nice profit of more than 100% including a special dividend. 

Looking at the long-term chart, selling in mid 2014 was not such a bad decision at least for the next 3 years (although in general my timing skills are clearly far below average):

sias

It took more than 3 years to surpass this level but then interestingly the stock more than doubled within a few months.

Looking at the aggregated numbers we can see an interesting pattern:

Read more

Some links

A good overview of event driven investing

Some links related to current and upcoming Spin-offs

A good overview of current issues in the Turkish Banking sector

The UK Value Investor looks at SaaS company Sage Plc, 

Uber is going vertical towards Mobility as a Service (MaaS)

Depending on where one reads, Waymo, Google’s Self driving unit is either a fantastic success or “people absolutely hate it”

Liqtech could be an interesting “punt” on changing regulation for the shipping industry