A combination of boredom, lack of dopamine alternatives, stimulus cheques and the gamification of markets led the USA-based online stockbroker, Robinhood, from relative obscurity into a multi-billion dollar empire. This slick operation has amassed an estimated 20 million brokerage accounts and attracted a last-recorded $20bn fair value (even though shares have reportedly traded on the…
Tag: valuation
Master Drilling: Hidden Gem
OLD ARTICLE – Original posted on March 29, 2016 When I first encountered Master Drilling (MDI), I was mildly impressed and put them on the radar to follow closer. Over the subsequent three years, I began to become quite impressed with the business and its operations. Did you know that Master Drilling (run out South…
Santova: Growing & Undervalued
OLD ARTICLE – Original posted on October 11, 2017 Santova (SNV) is a non-asset based supply chain manager with more than 65% of its earnings coming from outside of South Africa, including the majority of hard currency in this. Santova put out a H1:18 trading statement yesterday that can be summarised as follows: H1:18 EPS and…
When Does Valuation Matter & When Doesn’t it?
OLD ARTICLE – Original posted on October 5, 2018 Introduction: Fundamentals are what you get but valuation is how much you pay for it. The less you pay for a given set of fundamentals, the more you weight the odds in your favour that the investment will have a positive outcome. Hence, even if fundamentals are…
Five Lessons with Liquidity
OLD ARTICLE – Original posted on July 28, 2013 Besides all the usual skills and knowledge that goes with investing in stocks, operating in the small cap space forces you to master handling positions in low liquidity stocks. Here are five rules to help you handle low liquidity stocks: 1. Stretch your time horizon Low…