Hello, I am a private investor since 2012, with experience in Fintech and Internet industries.
My focus is value investing, combining the best aspects of value and growth. For this, I do not hesitate to look into Small caps or Emerging countries.
My purpose here is to bring these unique companies to the scene with little coverage and to document my own journey as an investor.
There are some ideas in deep value with defensive characteristics and some ideas in quality value.
I follow the psychology of Buffett and Munger who simplify investing and make it a lot about common sense. These two legendary investors have been misquoted and misunderstood recently by “quality investors” to justify excessive entry valuations and momentum investing.
Buffet typically buys under 15 P/E ratio and in this newsletter, you will see how discipline in buying price is exercised by looking everywhere for opportunities, and buying when others are fearful.
The Value methods historically outperforms:
PERFORMANCE:
I have been doing, unaudited, around 11.5% a year since I moved abroad again and opened my new brokerage account in 2018. I think that I only matured as an investor after covid and I am still learning. This is ok during a horrible time to be an EM, Europe value investor.
Significant performers
(since Newsletter started, as of Nov 2024)
TerraVest Industries Inc +280% since 2023
Newlat Food +135% since 2021
First Pacific Co +117% since 2019 - Write up in 2021.
Kaspi - Over 150% since 2022 - stock moved from LSE to NYSE making performance calculation would be complex with dividends and currency - purchase price 43$
IMS SA +81% since 2023
A closed idea was Associated British foods in 2022 that did 59% in a short time, or Tim SA that did 77% in a short time too, but my real portfolio missed the upside here.
However, I don’t do closed ideas and trades anymore as I switched to long term investing.
Significant bad performers
Intrum AB -55% since 2023 despite adding
Beximco Pharma -48% since 2021 despite adding
Bastide le Confort -42% since 2021 despite adding
Overall, there are not enough stocks with 100% performance yet and for me their valuations make no sense, therefore I am expecting the list of performers to increase sharply.
I have no automated way to track each performance including dividends and excluding past sales with my broker, and I am not interested in tracking +30 -30% movements.
Therefore I will track only large winners (+80%) and losers (-40%) disclosed in the newsletters.
The performance is based on real portfolio gains, including additions, and not on write ups. The newsletter is following a real portfolio with a long term approach.
Sometimes the portfolio return is not reflected in a timely write up (Kaspi), just shown in portfolio movements), and sometimes portfolio return is worse than a write up published after a significant drop already (Beenos write up).
Reasons to upgrade to paid.
1-The most complete portfolio of Emerging market companies around, with diversified stocks in all EM regions, and an experienced investor in South Africa.
2-A complete set of Euro small caps by the most pan European investor you can think of: A French person living in Spain who also lived in the UK and Ireland, and speaks German.
3-Your writer is a reader and watcher of investment ideas non only in English but German, French or Spanish, and will bring some to the table.
Thanks @Michael for all the Support: you can subscribe to his publication here
Thanks @Guy for all the support as well
