Monthly Archives: November 2019

All German Shares – Part 9 (Nr. 101-125)

And another 25 stock batch with some very interesting companies. At some point in time I will release a table with all the stocks and a link to the respective posts.

Nr. 101: Baumot Group AG

36 mn market cap company that calls itself the “clean air” company. According to the company huge potential if hardware exhaust filtering for problematic Diesel cars would kick in which the company is manufacturing. However, currently the company is in deep trouble, sales tanking and huge losses. Several capital increases and debt equity swap. “pass”.

Nr. 102: BHS Tabletop AG – ISIN: DE0006102007

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Some links

Are AI/data driven strategies to be blamed for the underperformance of Value Investing ?

The UK Value investor discusses his worst investment ever (Xaar)

Great Vanitfair story on WeWork and Adam Neumann

Damodaran on the ARAMCO IPO: Part 1 and part 2

And a (justified) comment from Alpha Vulture on Damodaran’s treatment of “truncation risk”.

Seth Godin on the “Google Tax”

A critical view on Alibaba’s accounting

Book review: “The Man who solved the Market” – Greg Zuckerman

RenTech

This is another book that I have been waiting for to read for some time. Jim Simons is maybe not a household name in investing, but his Renaissance Technology fund (Rentech) has clearly on of the best track record of any investment vehicle in recorded history. However, other than some other famous investors, Rentech was (and still is) so secretive that hardly anyone had a clue how he/they did it.

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Some links

Good “all around post” from the Brooklyn Investor on Jamie Dimon, Steven Shcarzmann, the market and more

Greenwood Investors Q3 letter on the difference between “tourists and pubs”

Prf. Damodaran on WeWork and Softbank

A good portrait of the LT3000 investment blog

The PeridotCapitalist blog answers some questions from readers

Ben Thompson on the “Google Squeeze” (Expedia, TripAdvisor)

An interesting article on holding stocks for too long

All German shares part 8 (Nr. 76-100)

As I am making good progress, I included this time 25 stocks. The first 100 are done, another 700 or so to go ­čśë

Nr. 76: Uniwheels AG – ISIN DE000A13STW4

Uniwheels is a 800 mn EUR market cap car supplier. Interestingly the German company floated its shares in Poland in 2015.┬áTheir main products are┬á aluminium rims / wheels for cars.┬á In 2017, the founders of Uniwheels sold their majority to US based Superior. Maybe a squeeze out opportunity, but I know little on how this works in Poland.┬á“Pass”

Nr 77: Foris AG

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Uber – Business model and “sum of parts” valuation attempt

Health and safety warning: This is not investment advice. Please do your own research !!!!!

Following my book review of “Super Pumped” a few days ago I felt motivated (or “pumped up”) to look a little bit into Uber as a stock.

Uber is interesting in my opinion for a couple of reasons:

  • They really disrupted the taxi market with their app and even managed to create a new verb “Ubering”.
  • They managed to earn a dominent market share in many countries in a short time
  • In the markets where they failed, they ended up with significant stakes in the leading players (Chine/Didi. Russia/Yandex, SE Asia Grab)
  • The stock is extremely controversial
  • the lock-up for old investors has just expired
  • the stock price has been tanking for some time now
  • the company is not easy to understand

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Some links

Interesting view on the “streaming wars”: It is not a “winner takes it all” game (Netflix, Disney)

The finance industry is increasingly using SPVs to trade hot startups Pre-IPO (Search result)

Gread “post mortem” on Restaurant Group Plc by John Kingham

A very critical view on online advertising

AQR/Cliff Asness thinks it is time to “tilt” towards “value stocks”

November update from Stock Spin-off Investing

Norway proves that there is still a lot of oil left in the North Sea

 

Some links

Valuesque with a great post on extremely creative accounting at Grifols

A great collection of (less frequent) news sources for investors

UndervaluedShares on J.G. Boswell, a little known OTC listed company holding a lot of land (and water rights) in California

Good advice: Forget about stock market Calendar anomalies

The yetanothervalueblog with an October update (very comprehensive…)

Great post on what makes Costco such an unique company

Investors experience burn out, too