IFA consolidator offers attractive risk/reward post raising

AFH Financial Investment Thesis Nov-17 Market Data Ticker:                     AIM.AFHP Market cap:             £94m (post raise) Enterprise value:     £73m (excluding net cash adjusted for regulatory capital)   Event AFH raised £17.5m via an institutional placement to accelerate their growth trajectory. Based on the increasing deal size, combined with managements ambitious growth aspirations, we believe they will … Continue reading IFA consolidator offers attractive risk/reward post raising

sometimes all you have to do is pick up the $20 note

There is an old economics joke that tells the story of a Finance Professor and his student walking down the street together: The student looks down and sees a $20 bill on the street and says, “Hey, look a twenty-dollar bill!” Without even looking, his older and wiser Professor replies, “Nonsense. If there had been … Continue reading sometimes all you have to do is pick up the $20 note

STM Plc – when “shoot first, ask later” creates an opportunity

Note: the authors fund holds a material position in the company and may trade in or out of its position. This is not financial advice, please do your own research. This report was created in mid June-2017 at a stock price of 45p and all return calculations are based on such. I provide no gurantee … Continue reading STM Plc – when “shoot first, ask later” creates an opportunity

record plc is a growth stock in disguise

I owe compliments to Wexboy for bringing this business to my attention in a recent blog post. After having a discussion with the management team and fleshing out the investment thesis further, I believe Record Plc (LSE:REC) presents an attractive risk/reward bet. It's exactly the type of stock I look for - hidden value   thesis summary Record … Continue reading record plc is a growth stock in disguise