Great article! I'm from Poland and agree fully with your analysis. I also own these 4 companies.
One thing to be aware of is that the polish large cap index (WIG20) is 60% state owned companies (and a lot of banks) and these tend to do what's good for politicians and not shareholders :) That's why investing in something like IShares Poland ETF, which is concentrated in WIG20 is ok but not great in my opinion. The mid/small cap segment (MWIG40 and SWIG80) on the other hand is full of companies like Ambra / Toya - cheap private companies with good fundamentals. This segment has visibly outperformed the large caps in the last few years.
Great article! I'm from Poland and agree fully with your analysis. I also own these 4 companies.
One thing to be aware of is that the polish large cap index (WIG20) is 60% state owned companies (and a lot of banks) and these tend to do what's good for politicians and not shareholders :) That's why investing in something like IShares Poland ETF, which is concentrated in WIG20 is ok but not great in my opinion. The mid/small cap segment (MWIG40 and SWIG80) on the other hand is full of companies like Ambra / Toya - cheap private companies with good fundamentals. This segment has visibly outperformed the large caps in the last few years.