ASML is the global leader in photolithography systems for semiconductor manufacturing. They basically make the machines that make chips used in computers, phones, cars, etc. Each machine costs hundreds of millions, and their customers include all the big chipmakers such as TSMC and Samsung. The company is unique because it is the only company to make extreme ultraviolet … [Read more...]
Gaming Realms – Screaming GARP
Elevator Pitch/TLDR Gaming Realms is a B2B provider of a unique gaming IP in an expanding market that is growing EBITDA at 30%+ yet trades at 7x EV/EBITDA ‘24F. Company Develops, publishes, and licenses gaming content with a focus on “Slingo” that was acquired from RealNetworks in 2015 for £12m. Slingo is a combination of bingo and slots. The game is licensed to … [Read more...]
Evolution AB – An opportunity due to market noise.
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...]
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...]
