Food for Thought #22 // Links🔗

The year is coming to an end. Here is some more food for thought for the weekend or the holidays, including: investing with a sense for future regrets, Charles Schwab, Square, FEmsa, BBBY, …

Must read: Collaborative A Few Things I’m Pretty Sure About from Morgan Housel. Many or all good points, but I especially loved these two (for my Quotes)

»An engineer can have a successful career knowing nothing other than engineering. Same for a chemist, meteorologist, or radiologist. Business and investing don’t work like that. They’re a little math, a little accounting, a little sociology, a little psychology, […] and public relations. That doesn’t make them harder than other fields; just more uncertain, prone to chance, and with fewer experts.«

»Daniel Kahneman says a key to investing is having ‘a well-calibrated sense of your future regret‘ which might actually be the key to understanding all forms of risk

  • When rereading Howard Marks’ book Mastering the Market Cycle (or chapters thereof) for the Xth time, I realized he also mentions this concept at the rather end of chapter XIII.

Collaborative two more pieces: What We’re Reading and Last Man Standing about (compounding needs time).

Swen Lorenz with his newest weekly dispatch introducing another blog to follow. (if you want to become a paying member to his world-class content please use my affiliate link)

Ensemble Capital with a podcast on Charles Schwab (SCHW US) and its 2020 holiday post, including Ferrari’s (RACE) extraordinary response to the corona crisis, and Masimo, and Housing, WFH, …

Value and opportunity writes a fantastic blog for 10 years and looks back.
And he takes a quick look at Femsa.

Marc Rubinstein from netinterest with Hip to be Square.

Company news

  • Bed Bath & Beyond (BBBY) sells Cost Plus World Market and ramps up buybacks
  • Grenke (GLJ GR) informs about rather good and further reassuring Warth & Klein Grant Thornton, KPMG statements
  • Check Point (CHKP US) has been selected to secure and streamline the management of NHS National Services Scotland’s public cloud data.
  • Tencent-led consortium exercises its option to buy a second 10% stake in UMG from Vivendi (VIV FP), moving closer to potential IPO. Bolloré (BOL FP) could profit.
  • Oriental Watch (398 HK) released its interim report (the six months ending Sept 30)
  • Pandora A/S (PNDORA) hits a new 52w high, despite new lockdowns, i.e. all German shops are closed until Jan 10th
  • European nations want to build a €6bn Starlink alternative so the region isn’t left behind in the race to develop satellite broadband. EU officials signed off on a LEO study that would offer secure government communications and potentially internet service to isolated communities. Let’s see what that means for SES (SESG LX)
  • Tesla‘s stock (TSLA) price hits a new (crazy!) record ahead of S&P inclusion

I wish you all a merry x-max and a happy new year (my 2020-review is in the making)
Best and happy investing, s4v


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