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Hidden Value Gems
Some observations about the Japanese market by the First Eagle team 🇯🇵💹👇🏽
✅"With surging corporate profits helping to rekindle animal spirits, the Nikkei 225 Index in February 2024 reclaimed its previous 1989 peak and subsequently set a series of new record highs before the early-August selloff."
✅"Notably, however, the benchmark’s 34.4% gain in local-currency terms over the past 32 months translates into a mere 3.8% when denominated in dollars; the S&P 500 Index is up 20.9% over the same period."
✅"Improved corporate governance standards may provide long-term structural underpinnings to Japanese equities."
✅"Given that more than 50% of Japanese companies have cash balances that exceed debt, which often coincides with sub-standard returns and low valuations, ample runway may be available for additional dividend increases and share buybacks."
✅"As investors have continued to favor passive investment strategies, very large cap constituents of Japanese indexes have done especially well amid recent market strength.T his may suggest latent opportunity in a more eclectic group of companies whose qualities have yet to be fully recognized by the markets."
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Some observations about the Japanese market by the First Eagle team 🇯🇵💹👇🏽
✅"With surging corporate profits helping to rekindle animal spirits, the Nikkei 225 Index in February 2024 reclaimed its previous 1989 peak and subsequently set a series of new record highs before the early-August selloff."
✅"Notably, however, the benchmark’s 34.4% gain in local-currency terms over the past 32 months translates into a mere 3.8% when denominated in dollars; the S&P 500 Index is up 20.9% over the same period."
✅"Improved corporate governance standards may provide long-term structural underpinnings to Japanese equities."
✅"Given that more than 50% of Japanese companies have cash balances that exceed debt, which often coincides with sub-standard returns and low valuations, ample runway may be available for additional dividend increases and share buybacks."
✅"As investors have continued to favor passive investment strategies, very large cap constituents of Japanese indexes have done especially well amid recent market strength.T his may suggest latent opportunity in a more eclectic group of companies whose qualities have yet to be fully recognized by the markets."
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Offshore
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Quiver Quantitative
Watching the SEC hearing.
Gary Gensler just gave his opinion on AI, Scarlett Johansson, and the movie Her: https://t.co/YyxvagGka7
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Watching the SEC hearing.
Gary Gensler just gave his opinion on AI, Scarlett Johansson, and the movie Her: https://t.co/YyxvagGka7
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Hidden Value Gems
A Brazilian holding company idea (First Eagle) 👉🏼Itaúsa $ITSA4.BR
✅"Its primary asset here is Itaú, the largest Brazilian bank, which makes up roughly 80% of the total holding-company value."
✅"Other investments include Alpargatas (shoes and apparel), CCR (Brazilian airport and highway concessions), and Nova Transportadora do Sudeste, which transports roughly 50% of the natural gas consumed in Brazil."
✅"The holding company trades at an 18% discount to estimated net asset value, while Itaú shares on their own trade at what he considers an overly discounted 8x estimated forward earnings."
✅"Roughly two-thirds of the stock floats freely and the other one-third is owned by the Egydio de Souza Aranha family."
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A Brazilian holding company idea (First Eagle) 👉🏼Itaúsa $ITSA4.BR
✅"Its primary asset here is Itaú, the largest Brazilian bank, which makes up roughly 80% of the total holding-company value."
✅"Other investments include Alpargatas (shoes and apparel), CCR (Brazilian airport and highway concessions), and Nova Transportadora do Sudeste, which transports roughly 50% of the natural gas consumed in Brazil."
✅"The holding company trades at an 18% discount to estimated net asset value, while Itaú shares on their own trade at what he considers an overly discounted 8x estimated forward earnings."
✅"Roughly two-thirds of the stock floats freely and the other one-third is owned by the Egydio de Souza Aranha family."
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Investing visuals
CrowdStrike $CRWD has been named a leader in the Forrester Wave: Attack Surface Management Solutions.
Here's the company at a glance👇 https://t.co/UOGKeIMMmt
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CrowdStrike $CRWD has been named a leader in the Forrester Wave: Attack Surface Management Solutions.
Here's the company at a glance👇 https://t.co/UOGKeIMMmt
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Stock Analysis Compilation
River Oaks Capital on Citizens Bank $CFG US
Citizens Bank’s exceptional management and strategic positioning, backed by significant cash reserves, make it a compelling growth opportunity with a high upside potential
(Extract from their Q2 letter) https://t.co/a8T5NCIvhT
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River Oaks Capital on Citizens Bank $CFG US
Citizens Bank’s exceptional management and strategic positioning, backed by significant cash reserves, make it a compelling growth opportunity with a high upside potential
(Extract from their Q2 letter) https://t.co/a8T5NCIvhT
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App Economy Insights
$HIMS Hims & Hers under the microscope.
📈 Growth drivers.
📊 Key metrics visualized.
⚠️ Potential risks & challenges.
🔎 Business model breakdown.
Is it the real deal or another $TDOC?
https://t.co/ZsuxShhIdB
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$HIMS Hims & Hers under the microscope.
📈 Growth drivers.
📊 Key metrics visualized.
⚠️ Potential risks & challenges.
🔎 Business model breakdown.
Is it the real deal or another $TDOC?
https://t.co/ZsuxShhIdB
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Value Spotlight (Andrew Sather)
RT @ValueSpotlight: Animated Guide: Growth Rate for Terminal Value/ Stable Growth Rate for DDM https://t.co/mg9dIVCNhi
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RT @ValueSpotlight: Animated Guide: Growth Rate for Terminal Value/ Stable Growth Rate for DDM https://t.co/mg9dIVCNhi
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