Some links
Undervalued Shares has a great feature about the “Klement on Investing” blog
FTAlphaville is not impressed by Uber’s plans for profitability
Valuesque with another interesting “accounting deep dive”, this time on Northgate Plc
2019 letter to shareholdersof TGV Intrinsic (incl. TomTom write-up)
The Annual letter 2019 of Tyro Capital includes some great stuff on stock picking
Bruce Packard on the current “Quant winter”
A great deep dive into the risks and opportunities for Spotify
value and opportunity 
You can check the case in this nice write up. https://www.wallstreet-online.de/diskussion/1262733-1-10/sbm-monaco-substanzriese-perspektive
Big Congratulations to the DAX for beating the managed fund ! ! Looking forward another outperformance in 2020 !! 😀
Haha. x-D (who is smarter !?)
Hey, have you ever had a look on the company Société Bains de Mer Monaco? Seems like the company is currently priced under NAV. I’d be keen on your opinion. Cheers, Michael
Hi, a stock being “under NAV” doesn’t motivate me that much. What Business are they in and how Big is the Discount?