There might come some change in Japan with companies targeting higher P/B.
Continue reading “Some bets on Japan changing, PF moves”Category: Specific Companies
Puking out HIFS after the nibbling (re-thinking HIFS)
‘Banking is a very good business, unless you do dumb things‘. It almost seems HIFS did a dumb thing.
Continue reading “Puking out HIFS after the nibbling (re-thinking HIFS)”PGR strategy and positioning
I think I do not own another company with such a clear, and I guess logical and potentially value creating, strategy.
Continue reading “PGR strategy and positioning”Nibbling at Hingham (HIFS), during banking stress
I was looking at HIFS for some years and wanted to buy shares cheaper. With all the recent developments in the economy and the banking sector I got the chance to buy into a quality bank. A perceived quality bank with issues!
Continue reading “Nibbling at Hingham (HIFS), during banking stress”Bought MBB
I added another and hopefully anotherone of the better SOTP plays.
Continue reading “Bought MBB”Banking on free money II (CBOBA)
Another small bank enjoying free money.
Continue reading “Banking on free money II (CBOBA)”Thoughts on Progressive (PGR) after Q4’22, UBI.
High quality business priced as such.
Continue reading “Thoughts on Progressive (PGR) after Q4’22, UBI.”Banking on free money (CZBS)
I could kick my ass for not looking into the epic ECIP story when I first read about it.
Continue reading “Banking on free money (CZBS)”Nobody is writing letters anymore. But reading them is great. (Buffett’s berkshire letters #2)
I recently started to read Buffett’s Chairman’s letters of Berkshire. and then I stopped again, because I like to read the lessons — great lessons — in a more structured way! See here.
Continue reading “Nobody is writing letters anymore. But reading them is great. (Buffett’s berkshire letters #2)”BankNordik foresees higher returns
With higher interest rates BankNordic is set to deliver higher returns in 2023. On top, the bank plans to reduce its core capital from an overcapitilized position.
Continue reading “BankNordik foresees higher returns”A dry January or sth like that
A month without twitter … But nice developments at insurance companies.
Continue reading “A dry January or sth like that”Some experience with Sixt (SIX3 GR)
Many German investors perceive Sixt as a German high quality business. My experience does not disprove the narrative.
Continue reading “Some experience with Sixt (SIX3 GR)”Re-insurance trends and capital cycles
Interesting industry data.
Continue reading “Re-insurance trends and capital cycles”More knowledge, biases, issues and open Q’s on MKL.
As within German politics, there are few double whammies, and much more talk than (thoughful) action. Turns out, the likelyhood for a true double or triple whammy in Markel is not that high probably, after reading the letters and giving it more thought …
Continue reading “More knowledge, biases, issues and open Q’s on MKL.”Some Arguments for Insurance Brokers
I recently learned some ‘insights’ about insurance brokers…
Continue reading “Some Arguments for Insurance Brokers”Personal experience: moving flats, on real estate & rents
Personal experience from a value guy: we live in a rather cheap (value!) nice flat in a rather popular district in Cologne (Sülz), Germany. After almost 10 years we are moving into a bigger flat, and we already kind of miss the great location of our current flat.
Continue reading “Personal experience: moving flats, on real estate & rents”Potential for a double whammy – Markel (MKL)
Markel and Gayner are well known in our circles. Do not expect anything new here.
Continue reading “Potential for a double whammy – Markel (MKL)”Cyclicality at PC Partner (1263 HK)
Sales, margins and returns on capital recently skyrocketed …
Continue reading “Cyclicality at PC Partner (1263 HK)”We enjoy interest rates once more
The ‘joy’ can appear a little small if we hold the wrong stocks, though …
Continue reading “We enjoy interest rates once more”Thoughts on SES going down (SESG LX)
Another stock that is surprisingly performing in lockstep with the market (that means deeply red). How come …
Continue reading “Thoughts on SES going down (SESG LX)”Issues at Greatview Aseptic (468 HK)
They used to generate ROEs in the 15% range, but that came down recently. So did the share price …
Continue reading “Issues at Greatview Aseptic (468 HK)”Hallmarks of P&C insurers
The book The Five Rules for Successful Stock Investing from Dorsey (see my review here) mentiones the following characteristics as hallmarks of P&C insurers and I wanted to check in on ‘my’ three insurances …
Continue reading “Hallmarks of P&C insurers”I bought 3% Haier (690D)
Business fundamentals look good. German issue trades at much lower price …
Continue reading “I bought 3% Haier (690D)”Quicky on Central Japan Railway (9022 JP)
A bet on tourisms returning to Japan. I definitely would want to …
Continue reading “Quicky on Central Japan Railway (9022 JP)”Quick thoughts on PGR: hold
During a challenging time for the industry the stock is at an ATH …
Continue reading “Quick thoughts on PGR: hold”