Catella FY 2017 update: More robust than ever?

Catella is a real estate focused investment bank and alternative asset manager operating in the Nordics and Western Europe. I wrote about the stock some two years ago, asking whether the low valuation multiples at the time really signaled cheapness. The answer was "qualified" yes but with the 2017 full year figures out and the stock …

Portfolio and blog situation update Q1/2017

It's three months since I last posted so I thought I will make small update on how I and my portfolio is doing, and to tell that the lights in this blog are still on, although apparantely less often. My posting frequency has come down radically for two reasons; first, I haven't had good new investment …

Catella: Cheap Price Signal or Noise?

Introduction Catella is a collection of loosely connected financial businesses where obscure reporting hides potential value. Catella owns corporate finance, property asset management, mutual fund, hedge fund, wealth management, private bank and a credit card processing businesses. Depending of the subsidiary ownership is 50-100%, adding complexity. It also owns ton of net cash and investments in …