Author Archives: memyselfandi007

Special Situation “quicky” – KAS Bank (ISIN: NL0000362648) take-over

DISCLAIMER: This is not investment advice. Please do you own research !!!!!


Some readers of my blog might remember KAS Bank. I bought the stock in August 2012 and then sold it with a decent profit in MArch 2015 because I had not paid attention to the pension liabilities.

Looking at the stock chart, the decision to sell in 2015 was a good (and lucky) one:

kas bank 5y

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Zur Rose AG (ISIN: CH0042615283) – Loss making failed IPO or long term growth opportunity ?

Disclaimer: This is not investment advice. DO YOU OWN RESEARCH !!!!


The company

Zur Rose AG is a Swiss company that specializes in selling / distributing pharmaceuticals. The core business is Swiss distribution business where they distribute pharmaceuticals to Doctors, as in some parts of Switzerland, Doctors canboth, prescribe and sell pills. In 2012, Zur Rose made a smart/lucky buy: For only 25 mn EUR, they bought German based online Pharmacy Doc Morris from Celesio, a German Pharmaceuticals wholeseller that got later acquired by McKesson (I owned the stock as special situation)

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Some links

Warren Buffett now has abandoned book value officially as measure for Berkshire’s success

Damodaran is  looking at the mess at KraftHeinz

Bill Gurley on the success of digital market places plus a checklist of what makes digital marketplaces interesting

Broyhill Investment’s 2018 letter

Deep thoughts on value chains (Walmart, Amazon, Google, Microsoft) from Ben Thompson

An interesting stock pitch on Nintendo

UK Fintech Revolut seems to be a tough place to work at

Some links

Warren Buffett’s 2018 letter to the Shareholders

A very interesting and comprehensive annual fund letter from Semper Augustus (h/t ValueInvesting World)

Zillow,the US Real Estate online classified leader, tries to become THE one stop shop for online real estate.

Morgan Housel has a very smart collection of the “different kinds of stupid”

The UK Value Investor has a look at HSBC

Good write up on Pershing Square Holdings and Central Securities

Some links

China’s impact on the world economy has increased significantly

Interesting rant on why AI won’t replace any job and Won’t drive any car

Fantastic slide deck on how the VC market has developed (hint: a lot of value is now captured pre IPO)

Pabrais’s “free lunch portfolio” tanked in 2018 but he is proposing a new one for 2019

“Bond King” Bill Gross now has officially retired. Maybe a few years too late.

Sequoia Fund Q4 letter

Random thoughts on HoldCos, Netflix, SPorts Media company and some links


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