⁠Librarian Capital
Direct Line $DLG 2nd offer from Ageas $AGS was 239p
This was disclosed 13-Mar; DLG shares down 15% since

Some UK fund managers went around giving interviews attacking the offer, not realizing that gain for clients

I hope it was worth it https://t.co/7bVUbbrVIz
tweet

⁠Stock Analysis Compilation
Baron Capital on Indus Towers $INDUSTOWER IN

Thesis: Indus is poised for re-rating and growth as 5G expansion and improving customer viability drive enhanced cash flow and operating leverage

(Extract from their Q2 letter) https://t.co/2HruDIQPdH
tweet

⁠Invest In Assets 📈
RT @InvestInAssets: Warren Buffett once said:

"It is far better to buy a wonderful company at a fair price than a fair business at a wonderful price."

But how does Buffett identify a wonderful company?

Here are 8 metrics Buffett use to identify wonderful companies: https://t.co/mm2SmMul4V
tweet

⁠Hidden Value Gems
Interesting facts:

✅ “Since 1926, just 72 companies have provided half the returns over bonds of companies.”

✅ “The figure in New York is that 60 percent of people are paid on the basis of their daily P&L.”

✅ “Out of one million companies, only 45 get to 100 year old.”

Great episode by @NicolaiTang1
tweet

⁠Quality Stocks
🇺🇸 Manhattan Associates $MANH one pager

🏆 Score 6.4/10 - losing points on valuation
🎯 My fair price estimation is around $190

🐂 Bull case
- Strong growth
- Strong ROE / ROIC
- Share buybacks
- Leader in an appealing market (logistics digitalization - WMS / TMS)

🐻 Bear case
- SBC - but almost reasonable compared to other tech companies in the US
- Valuation, but quality comes at a price
tweet

⁠Librarian Capital
Your regular reminder the "IA" in "IA Global" stands for Investment Association, so it is just the average return of UK global funds and underperforms the index

As of Jun-24 month end:

"IA Global" gained 52.9% L5Y
MSCI World gained ~80% L5Y (12.48% p.a., £) https://t.co/rAgZuH3NHZ
tweet

⁠Stock Analysis Compilation
Artemis Funds on SSP $SSPG LN

Thesis: SSP’s strategic growth investments and potential for high returns, coupled with undervaluation, create an attractive risk-reward opportunity

(Extract from their Q2 letter) https://t.co/gTtLKcS9mj
tweet

⁠Invest In Assets 📈
Howard Mark's two rules on market cycles:

1: Most companies are cyclical
2: The best investment opportunities arise when other investors forget the first rule
tweet

⁠Quality Stocks
Slowing economy 📉
Less demand for oil ⛽️

The market share evolution with USA will be interesting to follow. The current trend is in favor of the US oil. This decision shouldn't change that

OPEC+ is discussing a possible delay to an oil output increase planned for October after prices crashed to the lowest since last year https://t.co/kHaqFWIl6a - Bloomberg Markets
tweet