A recent addition to my portfolio was the Daily Journal (DJCO). My friend and hedge fund manager, Matthew Peterson, presented the idea at VALUEx 2019. He is not only a great guy but an out of the box thinker who is always a pleasure to speak to. If you read the description of DJCO or look at the recent accounts and valuation ratios you are likely to … [Read more...]
VALUEx Presentation: McKesson & Abercrombie
At the end of January, I flew to Switzerland to attend Guy Spier's private event. The event took place in the village of Klosters (Davos region) in Switzerland and the beautiful snow-covered scenery was a delight. As I live in Cyprus, I rarely see any snow. The event has many similarities to the Cyprus Value Investor Conference that I organize and hence I enjoyed it … [Read more...]
Quality + Value + Growth: Who makes the cut in the U.S.?
The idea behind this was to see if I could come up with a screen that included the characteristics of a great company and backtested well. So what are these characteristics? High returns on capital. High margins. Consistently generate free cash flow. Not too much debt. Stable revenues with either growth or at worse small declines (yes even the best companies … [Read more...]
Guy Spier
Considered one of the greatest investors of our times, Zurich-based fund manager Guy Spier is an example of the type of manager we would like to see more of in the asset management industry. While most known for bidding $650,100 with Mohnish Pabrai for a charity lunch with Warren Buffett, Guy's investment performance, attitude, and wisdom has placed him among the greats. … [Read more...]
Cyprus Value Investor Event Idea: Graftech
We just got done with the annual Value Investor Conference in Cyprus. You can see scenes from the event in this video. The event which this year had a 40 person cap was fully booked and participants enjoyed 25 presentations over the 2 days, as well as numerous activities including a private beer tasting, tour of the museum and a magic show. 22 investment ideas were … [Read more...]
The highest return on investment decision of the year!
Some days ago Tobias Carlisle posted on twitter a slide from a micro cap event which showed how well some of the companies presented did. A couple of replies played devil's advocate and wondered about the ones that didn't do so well. I couldn't help myself and pointed out that good events have good ideas. What I didn't mention is that participants don't even need to figure … [Read more...]
Long Western Digital (WDC)
Yes, you own a Western Digital product. For sure! The company generated $20.6 billion in sales of hard drives and solid-state drives (SSDs), as well as NAND based products. So essentially their storage products go into notebooks, desktops, mobile phones and data centers. There is fear in the market that prices are coming down and that demand for hard drives will weaken. … [Read more...]