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Hidden Value Gems
Good numbers at $ADM.L (UK GEICO) benefiting from the improving auto insurance cycle (moderating cost inflation vs stronger premiums + better interest rate environment).
US motor insurance profitable for the first time (if I am not mistaken).
EPS: +35%, ROE: 45%, DPS: 71p (+39%)
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Good numbers at $ADM.L (UK GEICO) benefiting from the improving auto insurance cycle (moderating cost inflation vs stronger premiums + better interest rate environment).
US motor insurance profitable for the first time (if I am not mistaken).
EPS: +35%, ROE: 45%, DPS: 71p (+39%)
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Librarian Capital
Ennismore was right on Admiral $ADM UK Motor in Jul:
"We have strong evidence ... that this growth has continued and accelerated ... We expect it to add well over 10% to its UK motor policy count in just the first half of 2024"
Actual:
23H2: +180k (+3.8%)
24H1: +540k (+10.9%)
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Ennismore was right on Admiral $ADM UK Motor in Jul:
"We have strong evidence ... that this growth has continued and accelerated ... We expect it to add well over 10% to its UK motor policy count in just the first half of 2024"
Actual:
23H2: +180k (+3.8%)
24H1: +540k (+10.9%)
PS. Admiral $ADM was Ennismore's #3 position as of Jun-24 month-end, but they bought more in Jul
"As of early July, we have made it our largest position"
This seems motivated by bullish expectations for H1 results ("expect it to add well over 10% to its UK motor policy count") https://t.co/Oytslevj68 tweet
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Librarian Capital
Admiral $ADM opened up ~9% after H1 results
Share price now up ~39% in the past year
Admiral has been #4 in our "Select 15" model portfolio, alongside Philip Morris $PM (#2), whose share price is up ~24% in the past year
Both are strong dividend payers
https://t.co/1U6LBGQzYq https://t.co/IVfn1TOSAp
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Admiral $ADM opened up ~9% after H1 results
Share price now up ~39% in the past year
Admiral has been #4 in our "Select 15" model portfolio, alongside Philip Morris $PM (#2), whose share price is up ~24% in the past year
Both are strong dividend payers
https://t.co/1U6LBGQzYq https://t.co/IVfn1TOSAp
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Stock Analysis Compilation
Third Avenue on Paltac $8283 JP
Thesis: Paltac’s dominant market position, strong balance sheet, and potential shareholder-friendly actions make it an undervalued gem in Japan’s distribution sector
(Extract from their Q2 letter) https://t.co/9uLQbhco9K
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Third Avenue on Paltac $8283 JP
Thesis: Paltac’s dominant market position, strong balance sheet, and potential shareholder-friendly actions make it an undervalued gem in Japan’s distribution sector
(Extract from their Q2 letter) https://t.co/9uLQbhco9K
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Invest In Assets 📈
Adyen is up +6% after its H1 2024 report.
• Revenue +24% Y/Y
• EBITDA +32%
• Net Income +45%
• EPS Diluted +45% https://t.co/MXsQxAaKvC
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Adyen is up +6% after its H1 2024 report.
• Revenue +24% Y/Y
• EBITDA +32%
• Net Income +45%
• EPS Diluted +45% https://t.co/MXsQxAaKvC
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Invest In Assets 📈
RT @InvestInAssets: Quality Screener:
+15% ROCE 5-Year
+7% EPS 10-Year
+5% FCF 10-year
+40% Gross Margin
+15% Operating Margin
+10 Interest Coverage
25 examples:
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RT @InvestInAssets: Quality Screener:
+15% ROCE 5-Year
+7% EPS 10-Year
+5% FCF 10-year
+40% Gross Margin
+15% Operating Margin
+10 Interest Coverage
25 examples:
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Hidden Value Gems
Ackman’s Pershing Square takes $229m position in Nike, buys shares in Brookfield…
$NKE $BN $PSH.L https://t.co/hKYUlN22KM
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Ackman’s Pershing Square takes $229m position in Nike, buys shares in Brookfield…
$NKE $BN $PSH.L https://t.co/hKYUlN22KM
I think $NKE is one of those investment opportunities today. Not cheap in absolute terms (22x PE), but this is on a cyclically low earnings and it is below historical avg PE of 25. https://t.co/YS3FZ1flPt tweet