Are AI/data driven strategies to be blamed for the underperformance of Value Investing ?
The UK Value investor discusses his worst investment ever (Xaar)
Great Vanitfair story on WeWork and Adam Neumann
Damodaran on the ARAMCO IPO: Part 1 and part 2
And a (justified) comment from Alpha Vulture on Damodaran’s treatment of “truncation risk”.
Seth Godin on the “Google Tax”
This is another book that I have been waiting for to read for some time. Jim Simons is maybe not a household name in investing, but his Renaissance Technology fund (Rentech) has clearly on of the best track record of any investment vehicle in recorded history. However, other than some other famous investors, Rentech was (and still is) so secretive that hardly anyone had a clue how he/they did it.
Good “all around post” from the Brooklyn Investor on Jamie Dimon, Steven Shcarzmann, the market and more
Greenwood Investors Q3 letter on the difference between “tourists and pubs”
Prf. Damodaran on WeWork and Softbank
A good portrait of the LT3000 investment blog
The PeridotCapitalist blog answers some questions from readers
Ben Thompson on the “Google Squeeze” (Expedia, TripAdvisor)
An interesting article on holding stocks for too long
As I am making good progress, I included this time 25 stocks. The first 100 are done, another 700 or so to go 😉
Nr. 76: Uniwheels AG – ISIN DE000A13STW4
Uniwheels is a 800 mn EUR market cap car supplier. Interestingly the German company floated its shares in Poland in 2015. Their main products are aluminium rims / wheels for cars. In 2017, the founders of Uniwheels sold their majority to US based Superior. Maybe a squeeze out opportunity, but I know little on how this works in Poland. “Pass”
Nr 77: Foris AG
Health and safety warning: This is not investment advice. Please do your own research !!!!!
Following my book review of “Super Pumped” a few days ago I felt motivated (or “pumped up”) to look a little bit into Uber as a stock.
Uber is interesting in my opinion for a couple of reasons:
Interesting view on the “streaming wars”: It is not a “winner takes it all” game (Netflix, Disney)
The finance industry is increasingly using SPVs to trade hot startups Pre-IPO (Search result)
Gread “post mortem” on Restaurant Group Plc by John Kingham
A very critical view on online advertising
AQR/Cliff Asness thinks it is time to “tilt” towards “value stocks”
November update from Stock Spin-off Investing
Norway proves that there is still a lot of oil left in the North Sea
Valuesque with a great post on extremely creative accounting at Grifols
A great collection of (less frequent) news sources for investors
UndervaluedShares on J.G. Boswell, a little known OTC listed company holding a lot of land (and water rights) in California
Good advice: Forget about stock market Calendar anomalies
The yetanothervalueblog with an October update (very comprehensive…)
Great post on what makes Costco such an unique company
Investors experience burn out, too
Upfront remark:
This time, I increased the number of shares per post to 15. I am making good progress with the underlying analysis so I guess it makes sense to speed up the series somewhat.
Nr. 60: Ludwig Beck AG
Barely profitable retailer with a 110 mn market cap. However “super prime” freehold property in my hometown Munich. The in 2015 acquired retail chain Wormland has been put in run off and led to significant losses in 2018 and 2019. “Pass”
Nr. 61: S&O Agrar AG – ISIN: DE0005236202
Another Biogas penny stock, “pass”
Nr. 62: Cybits AG – ISIN: DE0007240004
Bankrupt penny stock. “Pass”.
Nr. 63: Data Modul AG – ISIN: DE0005498901
The “beer King” Anhauser Busch Inbev has seen better days
Interesting thought: Value stocks have performed in line with historical expectations but the anomaly is the performance of growth stocks
Third Point (Dan Loeb) Q3 letter
A very deep look inside the technology behind Elastic, one of the current SaaS superstars
Oddball Stocks on the problems with “sum of part” plays
Some recent updates on the GlobalStockPicking blog portflolio
“Super Pumped”, written by NYT reporter Mike Isaac is a very recent book about Uber, the world’s first and biggest ride hailing company. The book covers Uber from the very beginning until the most recent events when founder Kalanick was forced out by investors and replaced by Expedia CEO Dara khosrowshahi.
value and opportunity 