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99 Emerging Value Ideas

Publish date: Nov 6, 2022
Last updated: Oct 14, 2023

https://www.biznesradar.pl/temat/54,wiesz-w-co-inwestujesz

Quickly:

  • MTN (African telco): too complicated, too many risks

  • Ambra (Polish wines): crazy rev growth, cheap EV/EBIT but horrible FCF growth and FCF/EV yield

  • TOA (TOYA, tools seller): op cash flow not great

  • Jardine Cycle and Carriage (Holdco, automobile): too big, too complicated, not compelling enough

  • Newlat Food (Italian foods, selling abroad): intriguing; FCF so much higher than net income, making for high P/E but juicy FCF yield (15% FCF/EV, 23% FCF/MCAP). And they’re buying back stock! No dividend. Thesis here.

Still haven’t read: https://emergingvalue.substack.com/p/ck-hutchison-holdings-solid-company

Other links:

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