Incredible story how 7 UK oil traders made 660 mn USD when the oil price went negative in April
Investment outlook from Broyhill Asset Management on the “return of Value”
Fred Liu (Hayden Capital) is up 200% this year and likes Afterpay from Australia
Fascinating deep dive into the API economy (Twilio)
Investment advice from 100 years ago (Spoiler: Still highly relevant)
Swen Lorenz from Undervalued Shares likes FEMSA
December update on mostly US spin-off situations
Prof. Damodaran tries to value AirBnB plus a very nice write-up on Booking.com vs. AirBnB
A sceptical look at the S-1 of DoorDash
A long and interesting look behind the scenes of Short sellers and their financial backers
The 30 best performing US stocks of the past 30 years
Great write up on Greek Yoghurt company Kri Kri from Smallcapseurope
Paul Graham (YCombinator) essay on how to be successful in YC interviews and how founders become billionaires
The WSJ estimates that 19-36% of business trips will be “Lost forever”
Interesting post on the British Brewery stock bubble 1885-1913
Some deep thoughts on the impact of video conferencing (Zoom) plus a very interesting feature about the founder and history of Zoom
A good pitch for Spotify and what an impact a Spotify playlist has on the music industry
Bill Gates looks back at his book “The road ahead” from 25 years ago
A critical (longread) view on the current status of the Venture Capital industry
How the COBOL programming language still rules in Financial Services
EV/TAM is the new benchmark for Electric Vehicle manufacturers (pre community expenses of course…)
Interesting feature on German “Tech Investor Wunderkind” Christian Angermayer
A pitch for Slack as an investment
Great post on how Social Media compares with the beginning of Television in the 1950s
Good portrait form Barron’s on car salvage company Copart
Wexboy with an epic post on Crypto Investment company KR1
A good reminder from Morgan Housel that it is very difficult to predict what happens after the pandemic
And a good write up on Multi-Chem, a Singapore based IT distributor
Overview of “Moaty” financial companies
Carson Block features a new short idea: Penumbra Inc which literally seems to kill its clients
Good story on how once unbeatable Intel has been fully “disrupted”
Very interesting interview with Magnus Carlsen
A good collection of Q3 fund letters
The outlook for business travel looks very bleak even after a vaccine
Quants had a really shitty year so far
Prof. Damodaran with a recap of the “covid-19 stock market”
Valuesque with an interesting deep dive on how to report football broadcasting rights under IFRS (and on socks)
Some interesting facts about the pulled Ant Financial IPO
The three main global Custody banks seem to run the World’s worst oligopoly
Interesting analysis how cost of business travel (or lack of) influences global trade
A really interesting question: Which stock market is the most zombified one ?
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
Two different approaches: Bireme Capital sticks to Value Investing whereas Forager has joined the SPAC party
A great three part holistic series from Prof. Damodaran on Value Investing: Part 1, Part 2, Part 3
Interesting deep dive into the often overlooked Geothermal Energy
Morningstar on some lasting changes in consumer behavior from the pandemic
In-depth look into US vs. Google from Stratechery
An interesting portrait of Cliff Asness and his blog from UndervaluedShares
Crazy times: How Just mentioning Green Hydrogen by Management can push any (LNG) stock into the stratosphere
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
value and opportunity 