A few (random) updates on stocks I own or looked at in the past:
Already 3 weeks ago, they issued a document how and when the merger will be completed. If I understood everything correctly, the ratio will be 20 SFPI shares for one DOM Security share and completion is on or around 13. November 2018.
DOM currently trades at 53 EUR, SFPI at 2,61 EUR, so the relative price is pretty efficient. I plan to stay invested and over time increase the position from 3% currently (after selling 40% at the tender offer at 75 EUR) to a full position. I think it makes sense to stay with founder Mr. Morel for the future.
Interesting analysis of Customer acquisition cost (CAC) and life time value (LTV) of Netflix users
Recommended: UK stock blogger Maynard Paton (h/t Alan who linked to this in the comments)
Concentrating bets sometimes doesn’t work even for very smart investors: Eddie Lampert & Sears
The Crypto ICO market has cooled off significantly
Great post on moats in the digital age (Booking, Landstar)
The build-up of “almost-junk” debt is astonishing
Good write up on Herny Schein
System1 (or under its old name Braijuicer) is a good example for a stock where it didn’t pay off to hold if we look at the chart:
I had looked briefly at them when Ben from Wertart bought them in early 2016 but back then didn’t take the time understand what the company was all about. After the huge drop I decided to have a deeper lok at the company.
This is not investment advice. Please do your own research and don’t follow any anonymous bloggers.
Let’s continue with this nice “anti Buffett” stock from my post last week.
The people / founders
FitBit’s original founders from 2007, James Park and Eric Friedman are still on board.
Interestingly, although both ar only 41 years old, FitBit was the third company they founded together.
The other companies were Windup Labs, a photo sharing company they sold in 2005 and Epesi, a B2B software company that didn’t work out.
Performance 9M 2018:
In the first 6 months of 2018, the Value & Opportunity portfolio gained +3,38% (including dividends, no taxes) against -2,2% for the Benchmark (Eurostoxx50 (Perf.Ind) (25%), Eurostoxx small 200 (25%), DAX (30%), MDAX (20%)).
Some other funds that I follow have performed as follows in Q1 2018:
Partners Fund TGV: +6,95%
Squad European Convictions +1,97%
Ennismore European Smaller Cos +2,16% (in EUR)
Frankfurter Aktienfonds für Stiftungen -4,42%
Evermore Global Value -1,59% (in USD)
Greiff Special Situation -1.91%
Squad Aguja Special Situation -3,86%
Paladin One +1,5%
The top 3 performers on a weighted basis were for 9M 2018 were: