March 2020 Portfolio Update
March Madness So I’ve had probably my best month as an investor so far. My portfolio is up ~20% MTD and ~15% YTD. I generally judge my performance against the ACWI EUR Index which was
Continue readingKofola Československo a.s (KOFOL.PR)
Coca Cola and Pepsi dominate pretty much every soft drinks market in the world. There are only a handful of companies that have managed to successfully compete with these two behemoths in their local markets.
Continue readingHidden Champions
I’ve been reading Hermann Simon’s excellent “Hidden Champions of the 21st Century” recently. In the book, Simon examines the characteristics and strategies of the world’s “unknown” small and mid-cap market leaders. In order to qualify
Continue reading2019 Update: Some Recent Purchases
I bought 6 stocks in the past 6 months – a European family holding company, an extremely undervalued net-net, a high-quality bank, 2 M&A special situations, and an incredibly illiquid stock that I’m slowly building
Continue readingQuickview: HK Luxury Retailers & Interesting Investing Ideas
Unfortunately I haven’t been able to update this blog as much as I would have liked in the last few months. This has been due to working consistent 12-15 hour days in my law job.
Continue readingQuickview – Selling at NCAV
I did a quick post on the returns of some of my exited net-net positions back in April (https://streetsofvalue.com/2018/04/02/quickview-exited-net-net-positions/). My results were very satisfactory. However I sold each of these positions when they “mean-reverted” to
Continue readingPershing Square Holdings Ltd (PSH:AEX)
A profitable and (in my view) simple deep value strategy is to invest in closed end funds (or “investment trusts” as they call them in the U.K.) trading at unjustifiable discounts to NAV. I’ve had
Continue readingMarty Whitman and the Importance of Creditworthiness
I’ve been a big fan of Marty Whitman’s value investing ideas for quite a while. His emphasis on “resource conversion” instead of income from operations, his insights on distress investing and credit analysis are all
Continue readingQuickview – Exited Net-Net Positions
While I’m generally unwilling to disclose most of my current holdings, I am more than happy to set out my past successes and failures. I think that showing my past results in net-nets is particularly
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