May 2023 monthly recap
Newsletter update
Company update
Quantitative watchlist
Write ups
Movements and conclusion
There are now 2269 subscribers. Awesome!
If you want to know me better, I did my first video with Oscar who is a young investor with a drive for understanding concepts in depth. I shared my knowledge of the PayPal business model. While there are some genuine concerns, I had to clarify some misconceptions about the company.
https://www.youtube.com/watch?v=t8zAgglrsT8
I wrote 3 Japan tech value screening articles, sorted the results. It was a lot of work, but it’s good for my watchlist.
I made a little PDF here with the Japan tech ideas in pictures. It’s free.
https://olivierma.gumroad.com/l/rguri
Bastide Le Confort (LINK) growth is accelerating, still priced very cheap.
AB Inbev: Bud light drama. WHY DID YOU DO THIS? Go woke, go broke is becoming true. This is hurting the US business. Luckily, they have Brazil and Asia.
IMS (LINK), a Polish niche marketing company, has passed a serious milestone by monetizing it’s music business. This is a quality business.
Some companies results were so-so with inflation of costs. The picture is changing for 2023 and it should be better.
Here I manually selected stocks for quality characteristics and track movements and PE from google finance or other providers.
This month I wanted to show the filter for Japan tech
To get the spot PE ratio in Japan I now take FT and it works much better than Reuters, as google finance does not cover Japan. Here is the formula.
=IMPORTXML("https://markets.ft.com/data/equities/tearsheet/summary?s="&D9&":TYO","/html/body/div[3]/div[3]/section/div[4]/div/div/div[2]/div[2]/table/tbody/tr[4]/td")
D9 being the cell reference in google sheets.
For lists of write ups, check mondaymorninglinks.com launched by Michael. Capital employed also links many write ups.
As some more aggregators send summaries, I will focus on selecting what I like best in terms of value+growth.
Kulcs soft - software in Hungary
My readers discovered this company already several months ago. I like the article but don’t agree that a lower multiple is warranted, I think/hope that inflation will stabilise in Eastern Europe and that earnings growth will continue in hard currency.
Spanish:
Allcore SPA. Potential Italian compounder
A bit too complex for me, but interesting.
Bilendi - ($) - A French compounder
It is Paid substack article but with a free intro that is already interesting.
French: