Category Archives: What we read

Some links

Prof. Damodaran on valuing vs. pricing IPO stocks

Will “Value Investing” ever make a come back ?

Interesting statistics on outperfomance of active stock managers (hint: High conviction helps…)

Good Q&A session with Bill Nygren (Oakmark)

Ben Evans thinks that Machine Learning (ML) is the new SQL

Valuesque with 2 good posts: 1) Adjusting for Hyperinflation (Unilever) and 2) Securitization transactions (Schaltbau)

John Kingham on (long term) lease obligations & IFRS 16

Some links

Ben Thompson on Uber and other “Tech” companies that interface with the real world

Direct Listing vs. IPOs with VC legend Bill Gurley (Podcast)

An update from the Stock Spin-off Investing blog

Fascinating story about “Yuutai Investing” in Japan

Safal Niveshak on the “death of businesses”

The Brooklyn Investor doesn’t think that we are in a stock market bubble

However, FTAlphaville is concerned about the “Big Balance Sheet Economy”

Some links

Prof. Damodaran with a deep dive into WeWork

Woodford’s problems might lead to some value opportunities in Tech (search result, H/T Monevator)

A good reminder that value investing works over the long term because it often doesn’t work in between

Interesting post on banking (and German Banks) from Bruce Packard

VC “legend” Fred Wilson on the merit of positive Cash Flows

A16Z on how even successful platforms are at risks to be “unbundled” into new verticals

Stitch Fix looks like an interesting company / Stock

The “All German Shares Series” – Intro

Background:

My roots as an investor are domestic German stocks. For the first 10-15 years of my investing “career” I would only look at German stocks (with minor exceptions during the Dot.com boom), only after some time I moved on to a more international focus. Even at the beginning of this blog in December 2010, the majority of our shares back then were still German.

These days, I only have a relatively small domestic stock allocation left (P. Hartmann, Draeger, Innogy) and mostly screen for international stocks.

One interesting thing happened in the meantime: I kind of lost my comprehensive knowledge about German shares. A lot of companies have newly been listed or disappeared and somehow I never ket track of what was happening. Also I didn’t follow the good ones very closely.

Read more

Some links

The UK Value investor with a deep dive on UK utility SSE

Great summary on what investors can learn from operators and vice versa

Must read from Ben Thompson: What is a Tech Company

Recommended: The “Ruffer Review 2019” with a lot of interesting but cautious stories on financial markets

The “Drone Bubble” seems to finally burst

Google tries to keep search users on their site more and more

The WeWork IPO seems to come at a lower valuation as inititally thought

 

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