Wednesday 10th March, 2021 Summary I am selling out of Playtech because I have found evidence to suggest Playtech’s core business-to-business (B2B) software product, “IMS”, is not as powerful in increasing the revenues of its online customers as I previously thought. Background I bought shares in Playtech in April and July 2020 at an averageContinue reading “Why I am selling out of Playtech”
Category Archives: Company
Stabilus: 14% IRR opportunity
20th September, 2019 Stabilus (XTRA: STM), is the world leader in the manufacture of gas springs and motorized opening and closing systems with a market cap of €1.5bn. The stock currently represents about 5% of my portfolio, with the potential to deliver about an 14% rate of return over the next decade, which is aContinue reading “Stabilus: 14% IRR opportunity”
EXIT Mincon: An acquisitive drill bit maker failing to benefit from turning cycle
Thursday 23 August, 2018 The mining industry downturn began in 2013, but has been showing signs of recovery since early 2017. Industry experts point to declining ore-grades and an improving mining investment cycle as favourable factors for the future of mining consumables manufacturers such as Mincon (LON:MCON). The market has not been blind to theseContinue reading “EXIT Mincon: An acquisitive drill bit maker failing to benefit from turning cycle”
Purplebricks: Leading a revolution, without a moat
Wednesday 26th July, 2017 Executive Summary I believe Purplebricks is an interesting short with ~90% of downside. The business offers a commodity product, at the highest prices in the market, in an industry with low barriers and dozens of new entrants. Rapid adoption of its “Fixed Fee” model in the UK is being extrapolated intoContinue reading “Purplebricks: Leading a revolution, without a moat”
The Equity Analyst 