value and opportunity

Interesting feature on Japan’s richest man Tadashi Yanai, founder of Uniqlo

Highly recommended: Superb write-up from smallcapseurope on Greek company Flexopack

UndervaluedShares thinks UK publisher Pearson is worth following

The Profit Hunting blog with an update of its dividend portfolio

Valuesque has a very useful primer on how to value stock option plans

Another “must read” from Ben Evans: On the future of retail and E-commerce (Spoiler: Nobody knows anything)

Despite his performance issues, David Einhorn’s Q3 letter is worth reading

Fantastic deep dive into the future of music / audio from Mathew Ball

“Covid-19 hit big oil companies like an Asteroid” (Bloomberg)

Has Tesco finally become a potentially interesting investment ?

Very good overview of the German Fintech scene from Finanz-szene.de

Super interesting longform interview with Daniel Ek, founder and CEO of Spotify

A short look at Romanian stock Fondul Proprietatea S.A.

Stratechery with its trademark deep insight into DIsney

A long term reader has started an interesting blog called smallcapseurope.com. Check it out !

Another super interesting new blog with a focus on valuation techniques is Lawbitrage & The Art of Company Valuation. Highly recommended !!!

Very smart article why most institutional investors have very short time horizons

Undervaluedjapan with a nice write up on a super cheap Japanese steel company

Great deep dive on the demise of footnoted.com and the fight with a super secretive quant hedge fund

How Charles Schwab transformed itself into a finance giant

The UK value investor with a great take on the “Covid-19 lottery” within his portfolio

 

A deep look into the troubled airline industry

Interesting article on “Super Spy” and soon to be listed Mega Unicorn Palantir

Uber’s self driving car project is not making progress  and why fully autonomous driving is still years away

Scott Galloway wants Disney to “Unleash the Mouse”

Interesting slide deck on the transformation of the New York Times

Yetanothervalueblog on Interactive Corp and ANGI

A very useful collection of recent investment research papers

UK retailer Next Plc has a highly interesting 6M report with many deep thoughts on retail and Covid-19

A good reminder that SPACs still are bullsxxx

Interesting interview with author and financial historian Edward Chancellor

Some deep insights into an Japanese activist story (Ryoyo Electric) 

As indeed “winter is coming”, life will happen more outdoor than usual

A16Z on “deep” job platforms

A WSJ portrait of the short seller behind “Hindenburg Research” (Nikola)

 

Shocking news ! Fraud in Startup Land. How can this be ?

In Silicon Valley, “pre-telling the truth” is ok according to Alex Danco

For a change, FTAlphaville somehow recommends 4imprint, a UK based company 

IPO’s are maybe not that bad compared to SPACs and direct listings

A great deep dive on London-listed Hypgnosis Song fund

A very good deep dive feature on Masa Son (Softbank)

Very interesting long term projections on energy usage from BP

When I saw the GM & Nikola announcement my first though was: This looks like Theranos and Walgreen back in 2016. Hindenburg Research is of the very same opinion: Nikola is a fraud. And yes, that’s what SPAC’s are really good for…

Great stuff: Bessemer Ventures has posted some of their internal investment memos including Wix (2007) and Shopify (2010)

The Brooklyn investor has a first look at Warren Buffett’s Japanese stock basket

Preis and Wert blog has a great write up on JDC Group (in German, the other parts of the insurance broker series are highly recommended, too)

Very interesting feature on Reed Hastings, CEO of Netflix

Great deep dive on Uber’s business model

A good reminder: Even the best companies see deep draw downs in their stock prices at one point

 

Even Seth Klarman’s Baupost seems to have lost it with investors

Must read: Dan McCrum summarizes the Wirecard story (so far) in the FT including many new interesting details

FT Alphaville thinks that ESG darling Tomra is wildly overvalued

The event industry is having its “Napster moment”

According to rumors, Softbank has been buying Tech stock options like crazy

Good advice: Save like a pessimist, invest like an optimist

Fred Wilson from AVC has some interesting thoughts on SPACs

Prof. Damodaran with a comprehensive market update

Softbank backed Finance company Greensill is part of some “interesting” financing shenanigans structures

The UK Value Investor with a nice write up on Jupiter Asset Management

“Uncle Warren” Buffett has significantly reshuffled his bank holdings

An interesting article on how Apple tries to force Apps/Companies to enable in-app purchases in order to get their 30% cut

A great inside story on stock trading app Robinhood

FTAlphaville on why stock splits can actually matter