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

“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

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