Links🔗: Food for Thought (updated)

Below you find the most interesting investment-related content and thought-provoking articels I stumbled about in the recent past.
Enjoy 🙂 reading undefined, thinking undefined about and getting involved in discussions undefined

  • The Economist (March 27) argues in Business and the virus – Best in Show that The pandemic shock will make big, powerful firms even mightier
    • especially when they have high (net) cash on their balance sheets, high profit margins
    • why the life for start up might become more difficult
    • reasoning is comparable to the known feature of antifragility
    • mentioned companies were mostly Technology & Pharma: Johnson & Johnson (has a lower CDS premium than Canada), Facebook, Googe, Amazon, Cisco, Nvidia, Roche, Novo Nordisk, Adobe
      • For a long time I want to start researhing and valueing some of them!…
      • (FYI: Softbank Group was also mentioned, with a different perspective: lots of debt, planning asset sales)
    • I believe Check Point would also qualify, as argued in various posts to be found here
    • Hint: behind a paywall, but I believe if you register up to 5 (?) articles are for free per month
  • Swen Lorenz from Undervalued-Shares (link) with an extensive research update, asking Gazprom – Is it now or never?.
    • Still in the reading-process but already like it and still expect a lot based on his prior gazprom research
  • value and opportunity with its Panic Journal (Part 5) reveiwing his feelings and action during the last few weeks as well as formulating some plans for the future
  • Collaborative argues in Wounds Heal, Scars Last why
    • generations that experienced two sever economic shocks in only a decade could crave for security (i.e. saving more, use less leverage), and
    • why support for public safety nets should grow in many countries


Prof. Damodaran argues in his post A Viral Market Meltdown V that

it is precisely at times like these that you need to go back to [valuation] basics

  • Video Interview (German) with Dr. Hendrik Lever (Acatis) and his view on the current situation, tackling questions and giving answers like these:
    • Which companies to buy? Maybe…
      • Companies profiting from the current situation
      • High quality companies that were always too expensive
      • Survivors (enough cash, low leverage) of stressed industries
    • When to buy?
      • When gap between mood and reality is at its peak
    • Hint: Just out of curiosity I was looking for translation options
      • positive for google, there is one! Once more, I tell myself to start a valuation on google!… 😀
      • The automatically generated subtitle works quite well in German, and I believe the main points can be understood in English…

Best and happy investing, s4v


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