Author Archives: memyselfandi007

System1 (ISIN B00B1GVQH21) – Warren Buffett “Collateral Damage” or Structural Headwinds ?

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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:

system1

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.

The business

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Some links

Must read: Rob Vinall’s latest letter (RV Capital 10th anniversary)

An interesting expirement: Trying to analyse the readability of annual reports

The Big Hack: How China “hacked” motherboards by inserting some extra chips

Great story on how difficult it is to break into the Rating oligopoly

Somehow, Oracle seems to struggle in the transition to the cloud

App only banks are becoming a thing

Must read (2): How (and when) 5G will effect us

FitBit (FIT) follow up: Enough upside to justify the risk ?

DISCLAIMER
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.

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Performance review 9M 2018 – Comment “Anti Buffett or Beyond Buffett ?”

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%
Profitlich/Schmidlin: -0,21%
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%

Performance attribution:

The top 3 performers on a weighted basis were for 9M 2018 were:

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Some links

The Follie Follie fraud case didn’t come totally unexpected

Overnight share price collapses In Hongkong seem to happen more often these days

Cryptomining company Bitmain is going public  including some “special effect” accounting

Ben from Wertart with a good overview of his current positions

Must read: Howard Marks’ new memo “The Seven worst Words in the World”

Old School Value with 3 “boring” stocks (Brady, Robert Half, Yelp)

Good advise from Venture Investor Fred Wilson: Know what you are looking for

 

 

Another return of the Watch Series: FitBit (FIT) – dead horse or exciting pivot ?

Watches again…..

Although I wrote a lot about Watch companies over the past few years (Swatch part 1, Swatch part 2, Hengdeli, Fossil part 1, Fossil part 2, Movado, Richemont), no investment came out of it. However I had a lot of fun researching these companies so it was time well spent.

When I initiated the series in 3 years ago, Smart Watches were a big thing and especially the Apple Watch was perceived to be the “Swiss Watch” killer, which, as we know now didn’t happen as they seem to coexist quite well.

Besides Smart Watches, Fitness Trackers were the “hot shit” and especially VC backed FitBit that IPOed in 2015 was taking oer the world.

This chart shows Fitbit against Fossil (blue)  and Richemont (green) and we can clearly see who had staying power and who not:

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