Food for Thought #26 // Links🔗

This time the most interesting content I stumbled over includes: valuation, Tinkoff, Sberbank, chips, …

One more review: One Year Has Passed for Junto.

Valuation: Damodaran analyses data on equity risk premium (the price of risk). This is a must read for novice equity investors longing to extrapolate this years returns.

Valuation: Clark Square Capital with a great twitter thread on valuation resources.

Swen Lorenz with his newest weekly dispatch introducing another blog to watch.

Chris Mayer about The Best Investors of All Time. They are rather entrepeneurs than investors. (This does not mean all entrepeneurs are better investors IMHO)

Marc Rubinstein from netinterest about Russia’s Tinkoff. I hold two big Russian companies, Gazprom and Sberbank (see below) and think the market is attractive to look at.

Forager with A Sweet Investment.

Investing lessons from Nick Sleep

Value and opportunity with his Installux post mortem. For improving ones investment process such exercises are very important.

The Economist with some writing about

  • Sberbanks second pirouette, explaining how the dominant and very profitable Russian bank tries to become a super app. In my Quicky on Sberbank (SBER RU) liked the combination of a (very) profitable bank investing and building its digital ecosystem.
  • Chipmaking is being redesigned and effects will be far reaching. More and more chips are powering the world, automobile production stumbles due to a chip shortage and the industry is consolidating during a shift to unbundling
    • designing: Nvidia, Arm, and additionally Apple, Amazon, Googe, Microsoft
    • producing: TSMC and Samsung, Intel?. Geopolitics will increasingly matter here.

Company news

  • Quadient (QDT FP) increased its guidance and revived my interest: In our valueDACH / good-investing community we discussed a German company active in the physical mail business providing a platform to handle such process from anywhere at any time (very important during home office).

Best and happy investing, s4v

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