YTD returns, portfolio rundown (and story about boss)

YTD and COVID performance I have been a bit busy in work during the COVID mayhem, so I haven't been writing for a while. I'm down 10,4% YTD. Those leveraged retail and restaurant plays in Outre-Mer territories and Portugal going in almost got better of me. I was down over 30% at worst with almost … Continue reading YTD returns, portfolio rundown (and story about boss)

I’m all over the place

Busy day today, bought some Jedat before the Japan close, then tiny positions to FNAC in France and Unicret in Italy during the day, and now Capri Holdings before the US close. And yesterday I was in Singapore and Vietnam (bought some more PYN Elite). I think I will increase my emerging Asia allocation more … Continue reading I’m all over the place

9.2.2020 Investment Journal: Vente-Unique update

Vente-Unique is a rusty growth company that has been one of my genius stock picks, currently clocking -50 %, give or take, from my purchase price. I was down even more during last year so I have been fighting with some negative reinforcement here for a while. At the time of the original writeup, I … Continue reading 9.2.2020 Investment Journal: Vente-Unique update

Investment journal 17.10.2019: Telia LT Q3 update & exit

Quite disappointed. Revenue is up quite a bit, 3,5 % ex. voice. But this has come with cost of margin. Gross margin was 57,6% vs. 61% %ish average before that. I was expecting profit growth but due to discounting it's really not materializing. EBT has been declining for 4 quarters in a row. My thesis … Continue reading Investment journal 17.10.2019: Telia LT Q3 update & exit

Ferronordic Machines: All loud on the Western front

Bought more Ferronordic Machines shares today for 143.5-147 SEK. Position is now <8% of my portfolio. The purchase was reaction to Ferro's acquisition of "certain parts" of Volvo's and Renault's truck dealerships in Germany. With the deal, Ferro moves to West-European markets from its home-base on the Eastern front, Russia and Kazakshatan. Transaction is part … Continue reading Ferronordic Machines: All loud on the Western front

Investment journal 16.8.2019: Glaston exit

6.8.2019 Sold all Glaston @ 1.19-1.275 I sold half of my position, which was originally quite big 9 %, already few weeks ago @ 1,275 eur because I lost conviction on the trade. I had just realized 50% loss on CAFOM, and decided to haircut positions across the board as I lost some confidence. Now … Continue reading Investment journal 16.8.2019: Glaston exit

Investment journal 16.8.2019: Apetit house keeping H119

Mixed feelings of the H1/19 report. Frozen Food segment improved operative EBIT by 1 MEUR to 1 MEUR. H2/18 the comparable EBIT was 2,3 MEUR. If H2/19 also improves by 1 MEUR then run rate frozen operative EBIT would be 4,3 MEUR or higher range of my estimate in the last Apetit journal. So Frozen … Continue reading Investment journal 16.8.2019: Apetit house keeping H119

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