Investment journal 10.7.2019: Back to Apetit

This stock has not been good for me. I think it's the second stock I wrote about in the blog. It's perennial under performer in the Finnish food sector and I have been waiting for turnaround since 2015. Two years ago, I even jumped in as new management updated strategy and sold some bad assets. … Continue reading Investment journal 10.7.2019: Back to Apetit

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Investment journal 2.7.2019: Vostok New Ventures exit

I exited Vostok New Ventures (VNV), portfolio of VC investments, today @ 61 SEK share because upside to the CEO bonus adjusted NAV dimished to 3%. I originally bought 5% position in last Christmas during the market panic when the upside to adjusted NAV was 40-70 % so this one played out nicely. My original … Continue reading Investment journal 2.7.2019: Vostok New Ventures exit

15.6.2019 Investment journal: Glaston sub-rights special situation

This is more backward looking historical trading report as the juicy situation has already ended although some upside is still left. Short real time commentary can be found on my Twitter feed. Anyway, I have about 9 % position on Glaston's common stock that I bought through share subscription rights in last Wednesday and Thursday. … Continue reading 15.6.2019 Investment journal: Glaston sub-rights special situation

Investment journal 9.6.2019: Telia LT situation update

Not much to see here. I own 7,7 % position in Telia Lietuva (Telia LT), a Baltic telco. I originally purchased it for of 1,15 eur/share about 14 months ago for defense and low valuation. Since then, I have received 0,07+0,08=0,15 in dividends. The stock is now 1,12 eur, so total value from the position … Continue reading Investment journal 9.6.2019: Telia LT situation update

Investment journal 5.6.2019: Tinkoff equity raise

Yesterday, Christian Ryther, portfolio manager of Curreen Capital, came up with vlog entry on merits of investment journaling. I keep mine, a lot less structured than what is mentioned in the vlog, but investment journal anyway. I enjoyed the video so much that decided to publish my latest entry re Tinkoff :). 5.6.2019 Tinkoff update So … Continue reading Investment journal 5.6.2019: Tinkoff equity raise

Against the credit in Russia: Case Tinkoff

INTRODUCTION Tinkoff Credit, Russian fintech Low 6.4x P/E 2019E, based on guided profit for 2019, which management kind of indicated will be beaten Modern digital only consumer "financial supermarket", focus on credit cards Probably the biggest and most profitable digital-only bank in Europe (~8,4 m. customers) Excellent long-term growth track record, 38 % net profit … Continue reading Against the credit in Russia: Case Tinkoff

PYN Elite fund: You don’t have to do everything yourself

Considering to outsource about 10 % of my portfolio to outside manager due to long time period of big cash position due to my inability to find ideas in what I consider my home markets (say Nordics and Europe). So I stumbled on Petri Deryng / PYN Elite fund and here are my random notes of him. … Continue reading PYN Elite fund: You don’t have to do everything yourself