The ProfitHunting blog with a nice series on Disney – Part 1, Part 2, Part 3
Larry Swedroe thinks that even 10 years are too short to judge active investment managers
Some deep thoughts on E-Sports and value creation
How an oil ETF become the driving force of the recent oil price crash
The case for (Quality) Small Cap Value stocks
Must Read: Paul Singer’s (pesimistic) letter to investors
Jeff Bezos letter to Amazon shareholders
(legendary) VC Investor Sequoia Capital tells its portfolio companies to batten down the hatches
A deep look into US Pay TV which looks more and more like a Zombie product
The march newsletter of spinoffstockinvesting (Registration required or read via RSS)
The Zephir blog thinks that Belgian stock Barco could be a buy now
Yetanothervalueblog is still positive on Airplane Leasing company Aercap
RIT (Rothschild Investment Trust) 2019 annual report
Congrats, the GlobalStockPicking blog is now 5 years old
Intro
Most readers know that I normally don’t do market comments, however this post will be an exception (and should therefore maybe ignored ?).
To be clear, I have no special information or personal opinion on how far the COVID virus will spread and what the ultimate effect of all this might be. Will there be a recession due to supply chain disruptions ? Will we see another stock market drop like 2002/2003 or 2008/2009 ? No idea, but in any case it makes sense to review what I think is the most reasonable way to behave for long term investors.
20 rules that might help you to survive, or at least sleep better
Situations like this are not unique and over the years I have created for myself some rules that might be helpful or not:
Must read: Why the (VC backed) technology sector seems to look very similar to the US shale industry some years ago
John Kingham thinks that DIageo is a good company but overvalued
UndervaluedShares with a great feature on the Lundin Group and how to make money in the “Dark Corners” of the capital markets
Are travel related stocks now a “Buy” ?
The Rational Capitalist blog has an in depth look into Buffett’s share repurchases over the years
GlobalStockPicking likes Greatview Aseptic, a competitor to Tetrapak
A critical viewon the “secret sauce” of the Private Equity industry
The always excellent Valuesque blog with some insights on how to manipulate round EPS numbers
A great list of attributes from A16Z on how to analyze market place businesses
The epic Semper Augustus annual letter (128 pages…)
Another AirBnB scam, this time in London
Very interesting deep dive why most AI (startup) companies are mostly not software companies but service businesses
The art of defining EBITDA for tech companies
Yetanothervalueblog with a deep dive into Wrestling (WWE)
Undervalued Shares has a great feature about the “Klement on Investing” blog
FTAlphaville is not impressed by Uber’s plans for profitability
Valuesque with another interesting “accounting deep dive”, this time on Northgate Plc
2019 letter to shareholdersof TGV Intrinsic (incl. TomTom write-up)
The Annual letter 2019 of Tyro Capital includes some great stuff on stock picking
Bruce Packard on the current “Quant winter”
A great deep dive into the risks and opportunities for Spotify
A short thesis for Dunkin Brands
A very interesting article on US fast food franchises and what Chick- fil-A does differently
The UK Value Investor with a “post mortem” of his Aggreko position
ZephyrDatabase with the next installment of its All Belgian Share project
The 2019 annual report of the TGV Truffle fund
Some interesting technical observations on Tesla’s short interest
Now this imakes an interesting pair: Paul Singer’s Elliott goes activist on Masa Son’s Softbank
Interesting write-up on Honda as an investment opportunity
A good collection of Spin-off related links
Undervalued Shares has a super interesting story on the Channel Islandsand its stock exchange
Great deck from Benedict Evans on Tech in the 2020s (and regulation)
A pitch for Booking.com (and the Google Monster)
Valuesque with an interesting post on the issue of maturing inventory (Diageo etc,:)
Shopify’s stock looks VERY expensive
Scott Galloway looks at his 2019 predictions and makes a few new ones fro 2020
Belgian Blog Zephyr Database has started the “All Belgian Shares” project. Part 1 is a great read.
Undervalued Shares has a nice post on unlisted shares
TGV Partners 2019 letter to investors
The UK Value investor with a deep dive into the reasons behind Ted Baker’s collapse
Greenlight Q4 Letter to investors and the Fundsmith 2019 letter
Howard Marks with a new memo mainly on decision under uncertainty
TGV Rubicon with their 2019 letter to investors
Scott Galloway on the chances of Casper actually doing an IPO
Forager discusses a few positions of their international fund
Some ideas from a recent stock conference called MOI (incl. Cars.com…ugh)
Stratchery on Visa’s acquisition of Plaid (for 50x revenue…..)
OTC adventures has discovered a nice exotic French stock
value and opportunity 