Some links 2/2024
More year end letters:
– East 72 Dynasty Trust (E-L Financial, PSH)
– UK Dividend Investor
Carsten from Augustusville with a great write-up on Delek, a US Energy downstream player
The One-foot Bars substack has a very nice write-up on Champagne house Laurent Perrier
I can’t repeat it often enough: Prof. Damodaran is offering the upcoming Valuation class at Columbia for free. There is no better deal in financial education, guaranteed.
Twitter Thread from Dalius with 10 recommended investment blogs
12 pretty good lessons from the stock market in 2023
PE Fund investors really do want their money back
value and opportunity 
LVMH share price is on a nice comeback. Maybe LaurentPerrier too
Champagner prices increased 15-25% in my region. Other food prices also went up, sometimes even 40-50%, though they are often basic. While for me it is easy to pass on Champagners and won’t buy them, I will not pass on basic food. Even if I earn 6 figures, I am not wasting my cash in bubbles with lots of marketing inside.
I do not see upside on those stocks, but the avg stupid consumist consumer may well prove me wrong…
I don’t buy that much Champsgne either. I also don’t buy Ferraris or Louis Vuitton or Hermes stuff. So my personal consumer behaviour (and maybe yours too) might not be so relevant for these products.
I buy Ferrari’s (the Prosecco), or also some Catalan Cava gems.
Bravo !!!
Aswath teaches at NYU, but yes, terrific opportunity