low multiple of depressed earnings, with multiple ways to win

Last week I posted my latest investment idea on SumZero and I thought it may be of interest to anyone who follows my blog that doesn't have access to the site. Firstly, a hat tip to @CapitalHInvest who recently wrote a great piece on CountPlus (ASX:CUP) as I was in the process of acquiring stock/developing my thesis. It can … Continue reading low multiple of depressed earnings, with multiple ways to win →

limited ticket size creates arbitrage opportunity

Earlier this week, ASX listed Mitula Group (ASX:MUA) announced that the board had received (and was unanimously recommending) a takeover offer from TSE listed group, LIFULL Co (TSE:2120). Mitula is a logical acquisition for LIFULL given they acquired its main competitor, Trovit, in 2014. Combining the groups will create one of the largest online classifieds … Continue reading limited ticket size creates arbitrage opportunity →

buying a dollar, for eighty cents

Name: TRIplc Berhad Ticker: KLSE:TRIPLC Price (MYR): 2.39 Market cap (MYR): 165m Market cap (USD): 42m Situation On the 15th of February, 2018 TRIplc Bhd shareholders voted in favour of a restructuring plan that will see the company sold to Puncak Niaga Holdings Bhd (KLSE:PUNCAK) and Pimpinan Ehsan Bhd (a shell company with no … Continue reading buying a dollar, for eighty cents →

“heads I win, tails I don’t lose much”

Code: NASDAQCM.SPRT Market cap: $50m Enterprise value: $0 Thesis Support.com is a very average business that provides technical support for customers of Comcast, Office Depot etc. that has been losing money for years. The reason I think it’s interesting is because it currently has a market cap of ~$50m and net cash on … Continue reading “heads I win, tails I don’t lose much” →

a different frame of reference

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 a different frame of reference →

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 →

shoot first, ask later

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 shoot first, ask later →

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 →