Monday 13 November 2023 Source: FT, “Its better to be stupid now than sorry later” Here are the main points: 1. Uday Kotak started the business offering bill discounting, its now India’s 3rd largest private lender. 2. His 26% stake of Kotak Mahindra is worth more than $13bn 3. Share price has underperformed after heContinue reading “The Indian billionaire that founded India’s third-largest lender”
Author Archives: equityanalyst13
Head of Japanese exchange is trying to raise P/B ratios of TSE stocks
Monday 6th November 2023 Source: FT, “Hiromi Yamaji: The banker turned stock exchange boss rattling Japan’s listed companies“ Main takeaways: 1. JPX boss plans to create a published list of companies that have stated they will make improvements, on 15th Jan 2023. 2. 50% of stocks on the Japanese exchange (TSE) have a price toContinue reading “Head of Japanese exchange is trying to raise P/B ratios of TSE stocks”
Originals: How Non-Conformists Move the World, by Adam Grant
Tuesday 6th June 2023 Buy Originals from Amazon Key insights Original thinkers produce more ideas than non-originals Produce three-times more ideas than you would normally. Originals aren’t better at judging the quality of their ideas – they just produce more ideas. This gives them more variation and therefore more chance of originality. Thomas Edison, famousContinue reading “Originals: How Non-Conformists Move the World, by Adam Grant”
BUY Nolato – the glo concerns are wrong
April 2019 In April 2019, while working for StockViews, I wrote up a BUY note on Nolato, the Swedish specialist plastics manufacturer. The stock had fallen 50% in 9 months on the back of concerns the key revenue driver was faltering; the manufacture and sale of Vaporiser Heating Product (VHP) smoking devices to BAT. InContinue reading “BUY Nolato – the glo concerns are wrong”
Why I’m selling out of ATVI
Tuesday 28 March 2023 The risk-reward potential owning Activision Blizzard shares at $85 per share, in anticipation of the closing of the Microsoft acquisition at $95, are no longer compelling. The EU’s competition authorities and the UK’s Competition and Markets Authority are due to provide their decisions on the merger on the 25th and 26thContinue reading “Why I’m selling out of ATVI”
Thoughts on Balfour Beatty
Friday 10 Feb 2023 Balfour Beatty (LSE: BBY) has been a zero growth infrastructure builder, financier and maintainer for a decade; with sales more or less flat at £7bn over the period. What’s more, the business is barely profitable. Operating margins hit a high of 1.5% in FY ’19, albeit up steadily from a lowContinue reading “Thoughts on Balfour Beatty”
Investors appear to be overconfident that inflation will subside and a recession be avoided
Friday 24 February 2023 I believe investors are overconfident in their thinking that inflation is now under control and hence we are likely to see an easing of rates in the next year. If they turn out to be wrong, we may well see markets reverse the gains they have made by the middle ofContinue reading “Investors appear to be overconfident that inflation will subside and a recession be avoided”
What are the key concerns the UK’s CMA is raising about the ATVI-MSFT merger?
Thursday 9 Feb 2023 In a statement released on Wed 8 February, the UK’s Competition and Market’s Authority provisionally concluded that: Microsoft’s proposed acquisition of Activision could result in higher prices, fewer choices, or less innovation for UK gamers. UK CMA Provisional Conclusion, 8 Feb 2023 A key concern was that the merger would makeContinue reading “What are the key concerns the UK’s CMA is raising about the ATVI-MSFT merger?”
Demand and resources mismatch have led to record wait times at NHS
Tuesday 7th February 2023 Here is a summary flow chart drawing on the key points from a deep-dive article in the Financial Times on Monday 6 February 2023.
Key risks to monitor in merger-arb investments
Thursday 2nd February 2023 I recently wrote up a buy thesis on Activision Blizzard highlighting the reasons why I thought Microsoft would likely close its acquisition of it by September. Microsoft (the acquirer) has said they would buy out all shares in Activision Blizzard (the target) using cash for $68.7bn, or $95 per share. IContinue reading “Key risks to monitor in merger-arb investments”
The Equity Analyst 