Market leader with a high return on capital and competitive advantages stemming from an incomparable quality product/offering and constant innovation. A compounder with potential optionality in a stable and scalable business. TL; DR (“too long; didn’t read”) Evolution is a B2B software gaming company. Gaming (casino) is evolving due to significant innovation in products. … [Read more...]
Tencent is cheaper than you think
Tencent hidden assets results in a cheap bet on a compounder that is a dominant player active in industries expected to grow at double digits. Company Tencent is the Chinese company famous for its 1.3 billion users’ app that is called WeChat. WeChat is not just a messenger type service but a super app. Under the WeChat hood there are mini-programs that act like apps. Once in … [Read more...]
The gold standard in travel is a GARP play
The gold standard of travel is a solid long-term growth at a reasonable price (GARP) play. Company Description Booking Holdings (BKNG) is the global market leader in online travel. Via the company’s six consumer-facing brands (Booking.com, KAYAK, priceline, agoda, Rentalcars.com and OpenTable), customers can make accommodation reservations (hotel or alternative stays like … [Read more...]
J&J – set it and forget it
At the Cyprus Value Investor Conference, I presented Johnson & Johnson as an idea. The most diversified health care company in the world offers a conservative investor reasonable returns with an extremely low probability of loss. Before I go into the details, it is important to give you some background. This idea was for a … [Read more...]
Value Vs Growth: Don’t Bother
One of the most popular and frequent articles that pop up recently are those discussing value versus growth. These articles typically define value investing as stocks with a low multiple (eg. low price to book) and growth investing those with high multiples. Usual conclusion is the value hasn't been working for years and that value investing is dead. Now … [Read more...]
