Yellowbrick Investing
Added 54 new stock write-ups to the site (pt 1):
@LuxOpesResearch (quick overviews) - $CCL.L, $SIGHT.PA, $MBWS.PA, $CGM.PA, $BVB.DE, $XIL.PA, $LHA.DE, $KENDR.AS, $AERO.SW, $BON.PA, $ENER.MC, $ATE.PA
@Fierce__beast - $EXFY (short)
@SFarringtonBKC - $FTK
@alc2022 - $RIVN https://t.co/biqsvg6Uao
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Quiver Quantitative
Wow.

We've been reporting on Representative Tim Moore's recent purchases of Intel stock.

Moore sits on the House Subcommittee on AI.

$INTC has now risen 90% since his August 1st purchase. https://t.co/53zMgomuGx
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Yellowbrick Investing
Added 54 new stock write-ups to the site (pt final):
@PineGroveCap04 - $CSU.TO (update)
@ashwinkrish1208 - $BUKS
@Manateeres - $SLDE (short)
@TheParadoxIntel - $FWONK
@boujee_banker - $PBAM
@OSA_Rochester - $KBSX (overview)
fund letters
and more... https://t.co/5se3nue8gp
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Investing visuals
September Portfolio Recap! 🌟

I shared the full recap and plan for October in the Savvy community today (link in bio).

Highlights:
• Portfolio +50.7% YTD and +16.8% in September
• Closed a long-term multibagger
• New position: a high quality software name
• Trimmed 3 positions
• Added to 2 position with great risk/reward

Community highlights:
• Tech talk: is AI hype or megatrend (my view from working in the industry)
• Market thoughts: a ball game
• 30+ position related updates and thoughts

If you'd like to see my real-time moves, thoughts on tech, research notes, full portfolio and more, consider joining our Savvy community!
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Quiver Quantitative
Wow.

Marjorie Taylor Greene filed an April 4th purchase of Lam Research stock earlier this year.

$LRCX has now risen 148% since her trade.

Also a purchase of Palantir on the same week. $PLTR is up 140% since.

Also Impinj. $PI is up 149% since.

Look at these charts: https://t.co/YyutObX29o
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Yellowbrick Investing
$LUXE

Surprised to see $LUXE trade down below $8 on a strong print for Mytheresa, and now at $7.70.

For those interested, here's how I'm thinking about it.

LUXE has 150m shs FD. At USD $7.70, the market cap is $1,115M USD, or EUR 980 million.

Now, LUXE has EUR 600m in cash (EUR 555 from the Richemont deal).

Mgmt had said they will spend EUR 400m on restructuring and cash burn for the off-price biz. But we also know that they will likely shut down Outnet and sell Yoox. They are likely to get some $ for Yoox and get some $ from inventory, etc. So call it EUR 300m.

That's an EV of EUR 680m.

Mytheresa on its own will do EUR 1 billion in sales this coming year. Last year they did 5% EBITDA margins, but I think they can do ~6% this year. That's EUR 60m in EBITDA. So you can essentially get the biz for 11x Mytheresa EBITDA only. In ~2/3 years, I think Mytheresa can get to the 7-9% margins management has as a target.

Now, you also have Net-a-Porter/Mr.Porter. That's another EUR 1B in sales. Mgmt thinks they can also get this to ~8% margins in a couple of years. I think it's doable. NAP/MRP spend ~800bps more as a % of revenue than Mytheresa on SG&A. Just right-sizing this should get them to the target, not to mention the considerable synergies that exist between these businesses (advertising, shipping, mgmt, etc).

So in ~3 years, Mytheresa/NAP/MRP will be at EUR 2.4B in sales, at an 8% margin, that's EUR 200m in EBITDA. At a 10x multiple (which is conservative), and with EUR 300m in cash, that's worth EUR 2,300m or $2.7B in USD -- $18 per share in USD. Considerable upside from the current price of <$8.- Clark Square Capital
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