value and opportunity

Rob Vinall has released his half year letter and has announced a big surprise: Andreas Lechner will join him officially as partner

Iceberg research published a quite entertaining “short attack” on Victoria Plc, a UK flooring roll-up

Great write-up from Augustusville on Millicom (TIGO)

Failed Chinese fast grocery delivery MissFresh is a great case study for similar businesses

Former Tech Champion Intel looks like a train wreck these days

ProfitHunting with a write-up on Aluminium Producer Norsk Hydro

A very interesting article about the obscure market in Listerine royalties

The Rational Walk blog on why researching companies that are too expensive might actually make a lot of sense

The “Uber leaks” picture a horrible company

SPACs were never a good idea for anyone except the promoters and even Bill Ackman is sending money back to investors

Interesting post on AMETEK, a company that compounded nicely over several decades

Companies with difficult to pronounce names might be systematically undervalued

Chrysalis and other “listed VCs” seem to be far behind the curve in valuation of their holdings

Some interesting details on “Twitter vs. Musk”

 

 

 

 

 

Another interesting background article on Tiger Global 

Elad Gil on the current state and future of Venture Capital (Twitter Thread)

A good reminder that Wealth doesn’t flow anywhere when stock prices go down

Ray Dalio thinks that Stagflation is coming

Excellent write-up on Fuchs Petrolub from Augustusville

And a great Sony Deep Dive from Asia Century stocks

Why the “long tail” promise  in streaming never happened

 

Brad Feld thinks startups should prefer “clean” down rounds to crazy structures

A deep dive into the factors why Nuclear Power is so expensive

Despite some popular home runs, Biotech Stocks as a group have underperformed over the long term

The Value Shares blog likes Vopak (German)

Searching4Value likes Croatian Pharma stock Krka

Bill Gates has released his “5 books for the summer” reading list

TikTok seems to have become essential for Music labels

 

 

Nice write-up on Apollo Global (although I would not invest there)

An interesting essay on streaming – Unbundling vs. Bundling etc. from the former CEO of Sky

NotBoring on the Terra-Luna implosion

Why the US has an infant formula (milk powder) crisis

The UndervaluedJapan Blog celebrates its (slightly frustrated) 10th anniversary

Rare feature on Chris Hohn (TCI Fund)

John Hempton is angry about the Management of Swedish Match because of the proposed take over

There is some evidence that “Bond King” Bill Gross was indeed a great bond investor

Wired story about Shein, the Chinese Ultra Fast fashion company

A not so positive take on Spotify

Some very deep (and not very optimistic)  thoughts on inflation by Prof. Damodaran

A nice pitch for Medios AG from VERUS (German)

Nice post on some lessons learned from “master capital allocator” Tom Murphy (Capital Cities)

A good thing to remember: Warren Buffett’s (short term) market timing skills are not that good

A Netflix Doku on Abercrombie & Fitch looks like  a “must watch” for any investor interested in retail stocks

The ProfitHunting blog on Aussie LNG player Woodside Energy

A good reminder that consistent outperformance of active fund managers is the wrong metric to focus on

Great take on Twitter by Prof. Damodaran and some very strategic thoughts on Twitter from Ben Thompson

Interesting background story on vending machines

The Q1 report from Bireme is worth reading (Netflix)

Kerrisdale is short the “Trump SPAC”. Even among all the shitty SPACs, this one smells especially bad

A Netflix pitch from Bireme Capital and a conversation with Evan Tindell from Bireme 

A very good overview on “customer based valuation” for fast growing companies

Five timeless investing lessons distilled from Arlington Value’s investor letters

Four easy ways to combine Value and Momentum

Some insights from Ben Evans how online marketing is evolving (and killing TV)

Interesting story on 30 year old Crypto Billionaire Sam Bankman-Fried

About that LME Nickel Short Squeeze and the potential consequences

Asian Century Stocks with a nice deep dive into Thai Beverage

Softbank’s Tech Hedge fund is being liquidated, with losses expected to reach up to USD 7 bn

Marc Rubinstein on the rise of fast payments (UK & Brazil)

Hybrid working V.1.0 doesn’t look very promising so far

Interesting notes from the book “10 1/2 lessons from Experience, Perspectives on Fund Management” written by Paul Marshall (Marshall Wace)

Maynard Payton with a great exercise: looking at the Energy consumption of all his portfolio companies

Annual letter to investors from Danish Fund manager Symmetry (23% CAGR since 2013)