Preview: Company 3 is an Australian microcap trading at a single digit multiple of free cash flow and normalized earnings. Business conditions have been somewhat subdued and this has led to a market valuation that I see as attractive currently. Insider ownership is substantial and capital allocation by management has been intelligent. Article type: Portfolio […]
Stelios Kanakis reports 2016 results, P/E: 8.8x
Stelios Kanakis (KANAK.AT), a Greek distributor of raw materials for confectionery, bakery and ice cream products, has reported results for 2016 yesterday. Stelios Kanakis is the exclusive distributor in Greece for a number of high quality brands, like Fabbri 1905. It also offers demonstrations and training for bakery professionals for using these products from its […]
Introducing ValueInvestingBlog Premium
As some of you know, I’ve been working for some time now to introduce a premium section on this website (“Premium” is a euphemism for paywall). There are a few reasons for making this decision. In short, it comes down to my incentives for writing on this site, and the increasing number of paid investment […]
VIB Premium: Company 2
Preview: Company 2 is a US-listed microcap bank that trades over the counter (OTC). An investor with some history of activism has taken a significant stake in this bank. This investor is not one of the very well-known activists like Stilwell and he has not made his intentions known yet. I expect the activist to […]
VIB Premium: Japanese basket – July, 2019
Preview: This post provides an overview of all the Japanese companies that are currently in my portfolio. Most of these companies are cash-rich net-nets, but there are a couple of companies in the basket that I like for other reasons, such as: a large discount to book value or significant share buybacks by a company. […]