value and opportunity

The usual brilliant post from Morgan Housel on 3 character traits that are bad for investors

Undervalued Shares has discovered the “Amazon of Iran” disguised as Swedish stock

Good Investing with a very interesting interview with the CEO of Naked Wines

Profit Hunting with a write-up of SNAM, the Italian natural gas network

The case against food delivery platforms (h/t SL)

Food for my new “passion”: A very good Biotech reading list from A16Z (scroll down)

Interestingly, Tesla is not accounting its Bitcoins as “money” or currency

Prof. Damodaran on “Price – Value feedback loops”

Valuesque with an interesting  deep dive on SNP’s order book and POC accounting (IFRS 15)

Telescope Investing with a 2021 “Disruptive portfolio”

Stratechery on Jeff Bezos stepping down and  Amazon

An interesting “reverse engineering” of a Charlie Munger “Deep Value” investment from 2001 (h/t to reader SG) 

Great post from Josh Brown how actually David can beat Goliath in the stock market  (Spoiler: not via wsb)

Mathew Ball on how Apple these days is acting as a typical monopolist and inhibiting progress

 

 

Interesting article on the current music rights catalog “gold rush” (Hypgnosis)

Rob Vinall with some deep reflections on “Compounders”

A comprehensive list of Q4 fund letters is to be found in this quiet corner of Reddit.…

Good write-up on Polish game developer CD Project

Cullen Roche on short selling and Citron Research is going “long only”

A very interesting introduction into the “Micro PE market”

A great reminder: Check up on cognitive biases on a regular basis !!

The Brooklyn Investor on Howard Marks, RenTech, Bubbles and other stuff

First year review of “Junto” (h/t searching4value)

Ghost kitchens meet celebrities: Innovation in the Restaurant sector

How Solar Power is “eating the energy world”

Great advice: Just buy stocks that go up and sell when it stops going up

Cathie Wood’s “Agressive growth” fund company Ark Investment is doing great

And some annual letters to investors:
TGV Partners
TGV Rubicon
TGV Truffle
Giverny Capital
Massif Capital

Great long read on Jack Ma and Alibaba

“The friendly Bear” thinks Lemonade is a “ESG Pump and Dump”

Rob Vinall with a great post on Conspiracy theories 

Absolutely must read: Howard Marks on the useless divide between “value” and “growth” investing 

Great summary of Nick Sleep’s (Nomad) investment wisdom

Some stock spin-off ideas for 2021

RenTechs “own money” Medaillion fund had another great year, its funds for outside investors however suffered big losses

Must read (as always): Rob Vinall’s 2020 letter to investors

FTAlphaville is very skeptical about the Hypgnosis (SONG) business model

A very deep and very skeptical look into Bill.com

Jeremy Grantham is calling the bubble (good summary of all bubble arguments even if I would suggest to ignore it)

What John Hempton (Bronte) learned in 2020 (Podcast)

Very interesting talk with Weijian Shan, an Asian PE investor and book author

Aggressive Buy: The next German Mega-Unicorn Pöny

Fred Wilson with some great thoughts on what happened in 2020 and what he thinks will happen in 2021

Swen Lorenz on potential UK take over targets

Good article on Claude Shannon, the “father of information theory”

Long Read: How Substack tries to become the platform for Email Newsletters

A few interesting 2021 predictions from Yetanothervalueblog

More 2021 predictions from Scott Galloway

It is 2020 year end review time for many fellow stock picker blogs such as:

Alpha Vulture blog 2020 performance
Valueinvesting France (French)
Bull, Bear & Value
Global Stock Picking
Preis und Wert Aktienblog (German)
Maynard Peyton
Clark Street Value
searching 4 value