Great 2022 portfolio review of the very eccletic Emerging Value blog
Despite the lacklustre performance, Terry Smith’s Fundsmith annual letters are still a great read. 2022 is no exception
Describing 2022 as a very good year for David Einhorn would be a massive understatement
Interesting deep dive into a Canadian Port logistics company called Logistec
2022 letter from TGV Partners (Ferguson, Mutui, Tucows; Naked Wines)
Seawolf Capital, run by a “Big short” veteran, was up +169% last year
Some interesting insights how a decrease in population interacts with the economy
It’s time after exactly 3 months for some new ramblings on Energy, Europe and of course the weather and other stuff.
Bad news everywhere:
The last few weeks felt like a new catastrophe is happening every week or so. Italian elections, the British Pound trading like a Shitcoin, Putin threatening the West with Nuclear Weapons, Energy prices for retail customers skyrocketing, potential Blackouts being a real issue in Europe this winter, steel and fertilizer companies shutting down in Europe, creating supply chain issues down the chain and in addition, rumors about regime change in China and/or preparations for an attack on Taiwan are surfacing every day.
I have been listening to some US podcasts and there seems to be consensus on that Europe is Toast. Even a comparison to the “Arab Spring” was made with the dire prediction that Governments will topple like Domino tiles. I don’t want to sound arrogant but one word of advice to my American readers: European countries are actually all Democracies and if people don’t like their leaders they will elect new ones.
The FT was just running an article about the coming Deindustrialization of Germany with the example of BASF threatening to “leave” Germany and Billionaire Ray Dalio thinks that Europeans are not working hard enough.
Interesting FT article on UK listed Venture Capital vehicles (Venture Capital Trusts)
A good “red flags” list for Venture investments that might work well for listed tech stocks, too
A very nice deep dive into LVMH and the luxury business
Interesting Podcast with UK investing legend Nick Train
Swen Lorenz with a very interesting introduction & Deep Dive into the Lloyds Insurance market
A nice pitch for Europe and Germany despite the current energy crisis from Noahopinion
If you haven’t tried out ChatGPT yet, do it. I wonder how schools and universities will cope with pupils and students doing their homework using this tool.
Those readers that share my fascination with Science Fiction books know the plot: In the (far) future, humans have solved Nuclear Fusion and with that unlimited energy is then able to fly to the stars.
“The Star Builders” however is not a Science Fiction book but the attempt to analyze the current status of this technology, written by a “serious” Physics researcher.